Adi Godrej, chairman, Godrej Industries, said the company was in talks with a few local brands as part of its organic and inorganic growth business push.
In March this year, Godrej Foods had been sold to Godrej Tea for a consideration of Rs 70 crore (Rs 700 million), and IL&FS had been brought in as an equity partner with a stake of 40 per cent through an investment of Rs 60 crore (Rs 600 million).
Godrej said that while it was looking at all categories of foods and beverages, they would be focussing on brands and companies which were well recognised and had a proper presence in the categories that they were present in.
"There aren't that many opportunities, but we are in talks with a few players," he said. Both Godrej Tea and Godrej Foods were loss making entities and the company is hoping to leverage the synergies arising through this merger and hopes to show a profit in the current financial year.
The acquisitions would be funded by the private equity investment, Godrej said. At present apart from teas, the company has fruit juices and nectars, cooking oils, bakery fats and soya products as part of its portfolio.
