M&A

M&A

German's Dr. Oetker acquires ready-to-eat cakes co. Kuppies

The Hindu  

Bielefeld, Germany-based packaged food MNC Dr Oetker has acquired Noida-based start-up Kuppies, marking its foray into the ready-to-eat (RTE) cakes and desserts segment. Dr Oetker's Indian unit will be using Kuppies' manufacturing unit, its innovation centre and the brand to grow its presence in RTE cakes and desserts in the local market. The company will be introducing eight products to start with - four flavours in brownies and four types of pound cakes, and all the products will be vegetarian or without eggs. The company is targeting to close 2021 with a revenue of INR 400 crore, recording a growth of about 20%