Mumbai: Tata Consumers Products Limited (TCPL) would fund its acquisitions of Capital Foods Limited and Organic India Limited having a combined enterprise value of Rs 7000 crores. Through internal cash reserve and bridge financing, MD CEO Sunil Dsouza said on Sunday. 'Both acquisitions operate in areas which offer' far attractive ' and business is growing at a healthy pace,' he said.
Besides, TCPL will continue to strengthen its portfolio in the food and beverage segment organically to fill the gaps but also scout for inorganic growth opportunities if someone offers a better brand, technology, and team, he added.
Last Friday TCPL announced the complete acquisition of Capital Foods which owns brands like Ching's Secret and Smith & Jones at an enterprise valuation of Rs 5100 crore and Fab India backed organic India, which operates in the health and wellness category at an enterprise value of Rs 1900 crore.
TCPL board is scheduled to meet on 19 January to consider the proposal for fundraising by debt issues in the form of commercial papers/debentures and equity issues.
