By Team Ayurved Sutra
Posted on
CVL enters into Ayurveda sector with Herbolab buy
Marking its entry into the Ayurvedic medicines’ segment, CESC Ventures Ltd. (CVL), a RP-Sanjiv Goenka Group company, has acquired a stake in Herbolab India Pvt. Ltd. that makes Ayurvedic medicines and products. In a regulatory filing, CVL said that a 64.6% stake had been bought in the 29-year-old company for ₹32.2 crore. The company clocked a turnover of ₹1.94 crore in 2018-19. It has the brand name of ‘Dr. Vaidya’s.
“The investment in Herbolab will help the company expand its existing portfolio into the ayurvedic products segment,” the firm said, adding that the acquisition would bring in synergies to the company’s business and long-term strategies. CVL, which was listed in January this year as part of the recast of the group’s flagship CESC Ltd., has three business segments — business process management, property and FMCG under which there are brands like Too Yumm and Evita. Too Yumm marked the group’s entry into packaged snack foods business in 2017.
