International BusinessGodrej Consumer to complete consolidation in 2-3 months
In line with its plans to bring synergies in operation and to improve cost efficiency, FMCG major Godrej Consumer Products is consolidating three of its businesses, including its joint ventures and the process is going to be completed in the next two-three months.
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"We are in the process of consolidating our operations with two of our existing joint venture companies with the parent company," GCPL Managing Director Dalip Sehgal said.
He added the process will be completed in the next two-three months and will help in bringing synergy in supply chain management, modern trade and other rural initiatives besides cutting cost.
However, the company did not provide details on the savings it would be making through the initiative.
The consolidation will see two of GCPL"s joint ventures — Godrej Sara Lee (GSL) and Godrej Hershey’s (GHL) — merge with the company.
Godrej Sara Lee is a joint venture company between the Godrej Group and the US-based Sara Lee Corporation. It has brands such as GoodKnight, Jet, Hit and Banish under its portfolio.
Godrej Hershey Foods & Beverages (GHFBL) is a joint venture between the US-based Hershey Company and Godrej Beverages and Foods, and are the makers of Maha Lacto.
However, despite the merger, the two joint ventures would still remain as independent firms, Sehgal added.