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The Economic Times
March
30, 2005
Avesthagen buys Good Earth Foods
| Avesthagen, Bangalore-based integrated biotech
company, has acquired Good Earth Foods to form a wholly
owned subsidiary -- Avesta Good Earth Foods. |
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| Good Earth Foods specialises in breakfast cereals and
biscuits and is owned by film actress Waheeda Rehman and
her partner Ashraff Sattar. Both the companies declined to
disclose the financial details. The acquisition is part of Avesthagen's long term
strategy to launch its branded nutraceuticals as
functional foods. |
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| "The acquisition also marks the foray of Avesthagen
into FMCG segment and is my belief that an integrated
biotech company such as ours should take the challenge of
marketing our own products in order to grow in current
market conditions. It is our long term goal to consolidate
the company as a national brand", said
Dr.Villoo Morawala Patell, Avesthagen's founder and CEO. |
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