homevideos Newsbusiness Newscompanies NewsNo fresh talks on acquiring Polish biscuit producer Dr Gerard: Parle
No fresh talks on acquiring Polish biscuit producer Dr Gerard: Parle
There were reports that Parle Products is in talks with private equity firm Bridgepoint to consider buying Dr Gerard, the second largest biscuits producer in Poland.
There are no fresh talks on acquiring Polish biscuit producer Dr Gerard, said B Krishna Rao, Senior Category Head, Parle Products while talking exclusively to CNBC-TV18. He said that nothing is materializing on the acquisition.
Earlier, there were reports that Parle Products is in talks with private equity firm Bridgepoint to consider buying Dr Gerard, the second largest biscuits producer in Poland.
Dr Gerard is reportedly valued at $121.72 million to $146.07 million. Founded in 1993, it makes over 200 different biscuits and salty snacks and exports to more than 30 countries, according to its website.
Talking further on the demand, Rao said that rural demand has slowed down in September but they have seen an uptick in demand for confectionary segment. He added that they are targeting 15-16 percent revenue growth in Q3FY23.
He believes that Rs 10 price point is contributing to 65 percent of the company’s portfolio.
"We are also targeting a volume growth of 4-5 percent in the quarter. However, rise in wheat prices will impact profitability significantly." Rao said.
Wheat prices have increased by 20 percent lately.
The Reserve Bank of India (RBI) in its last policy retained retail inflation projection at 6.7 percent for the financial year ending March 2023. While there was no change in the estimate, governor Shaktikanta Das warned of a possible rise in prices of wheat and vegetables.
On UPI payments, Rao said that they have not seen much impact of UPI on confectionary segment.
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(Edited by : Anshul)
First Published: Oct 18, 2022 5:55 PM IST
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