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Wednesday, Mar 30, 2005

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Avesthagen acquires Good Earth Foods

Our Bureau

Bangalore , March 29

THE health foods business that actress Waheeda Rehman started and built over a decade ago is now part of Avesthagen. The Bangalore-based Avestha Gengraine Technologies P Ltd has announced that it has acquired Good Earth Foods P Ltd.

Both the parties chose not to divulge the sale value.

The breakfast cereals and biscuits will be promoted by the fully-owned new subsidiary, Avesta Good Earth Foods P Ltd. There will also be energy bars and slim bars to start with. Avesthagen's R&D wing is also testing many more health-foods to be launched as indigenously developed products relevant to the Indian consumer.

Avesthagen Founder and CEO, Dr Villoo M. Patell, said the acquisition was part of the biotech company's long-term strategy of launching its branded nutraceuticals; it also marked its foray into the health-foods and FMCG marketing segment.

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