Dharampal Satyapal Group (DS Group), a multi-business corporation, announced the acquisition of The Good Stuff (formerly known as Global CP Pvt Ltd), brand owner of LuvIt Chocolate and confectionery, earlier owned by Goldman Sachs and Mitsui Ventures.
This acquisition is a strategic move to grow and strengthen the Group’s confectionery portfolio, whilst widening its distribution reach across grocery and other retail outlets.
This integration will enable a stronger geographical footprint including that in Southern India and will increase the current product offerings for the DS Group. Symbiotically, Brand LuvIt will benefit from the robust distribution network of DS Group across the country.
Rajiv Kumar, vice chairman, DS Group, said, “DS Group has been focusing on increasing its presence in the confectionery 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. ”
DS Group entered into confectionery 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.
Pulse has been a leader in the hard boiled candy segment for the last seven years. The brand LuvIt brings in a wide range of decadent chocolate and confectionery products that would augment the confectionery portfolio of the Group with a range of rich milky chocolate, crunchy wafers wrapped in delectable chocolate, fruit or chocolate flavored lollipops, eclairs, sugar panned chocolates and choco snacks.
The Indian confectionery market is valued at approximately Rs.23,000 crores, out of which, chocolates as a category dominates with almost 60 percent share at Rs.13,800 crore. The Indian chocolate market is expected to grow at a CAGR of 6.69 percent till 2028, according to a report.