Dr. Oetker, the leading food multinational has announced the acquisition of the India-based start-up Kuppies marking its foray into the ready-to-eat cakes and desserts segment.
This is the second acquisition made by the German multinational since 2018 when it bought FunFoods, a company with a strong presence in categories such as sauces, spread, and mayonnaises in India.
Dr. Oetker India’s managing director and CEO, Oliver Mirza, commented: “This acquisition will enable us to present Indian consumers a range of innovative and exciting eggless offerings that match the taste experience of European cakes”.
“India remains an exceptionally important market for us, and we will continue to invest in growing our portfolio. This acquisition reaffirms our commitment to build this category in times to come and is in accordance with our global strategy,” added Mr. Mirza.
Source: Business Standard