By Our Special Correspondent
BANGALORE, MARCH 29. Noted actress of yesteryear Waheeda
Rehman and her partner Ashraffa Sattar have sold off the
health foods firm Good Earth Foods Pvt. Ltd. that specialises
in breakfast cereals and biscuits to Avestha Gengraine
Technologies Pvt. Ltd. (Avesthagen).
Both the Bangalore-based entities have, however, declined to
reveal the transaction value. "Following a request from
Waheeda Rehman, we have decided not to disclose the value of
the deal," officials having knowledge of the deal said.
Avesthagen, a fully integrated biotechnology and
bioinformatics firm, has set up a wholly-owned subsidiary
christened Avesta Good Earth Foods Pvt. Ltd. to promote the
The acquisition is part of Avesthagen's long-term strategy to
launch its branded nutraceuticals as functional foods
targeting the burgeoning health foods market.
"The acquisition of Good Earth Foods marks Avesthagen's foray
into the health foods and FMCG marketing segment," Villoo
Morawala Patell, Founder and Chief Executive Officer,
Ms. Waheeda said she was happy that "an international and well
established company such as Avesthagen has decided to acquire
and further grow Good Earth Foods."