Dharampal Satyapal Group (DS Group), a multi-business corporation and a FMCG Conglomerate acquired The Good Stuff (formerly known as Global CP), brand owner of LuvIt Chocolate and confectionary, earlier owned by Goldman Sachs and Mitsui Ventures.
According to a statement, this acquisition is a strategic move to grow and strengthen the Group’s Confectionary portfolio, whilst widening its distribution reach across grocery and other retail outlets.
DS Group entered into confectionary business in 2012, and has a strong assemblage of popular non chocolate brands like Pass Pass, Pulse, Chingles, Rajnigandha Silver Pearls, Maze and the recent partnership with luxury Swiss chocolate brand Läderach for its maiden launch in India.
Speaking on the acquisition, Shri Rajiv Kumar, Vice Chairman, DS Group, said, “DS Group has been focusing on increasing its presence in the confectionary segment for the last many years. Acquisition of LuvIt was a strategic decision to enhance our confectionary basket and enter the Chocolate segment with an impressionable footprint. This would enable us to expand our product portfolio thereby reaching new consumers and markets too. LuvIt as a brand, perfectly complements our portfolio and synergizes with our business ethos of innovation and premium quality. ”
According to a statement, this integration will enable a stronger geographical footprint including that in Southern India and will increase the current product offerings for the DS Group, which is already one of the leading players in the non-chocolate confectionary segment. Symbiotically, Brand LuvIt will benefit from the robust distribution network of DS Group across the country.
The Good Stuff had a turnover of more than Rs100 crores in FY22, with nearly 90 per cent contribution from the brand LuvIt. The Indian confectionary market is valued at approximately Rs.23,000 crores, out of which, chocolates as a category dominates with almost 60 per cent share at Rs.13,800 crore. The Indian chocolate market is expected to grow at a CAGR of 6.69 per cent till 2028, according to a report.