New Delhi, 06 June, 2022: Dharampal Satyapal Group (DS Group), a multi-business corporation and a leading FMCG Conglomerate announced the acquisition of The Good Stuff Pvt Ltd (formerly known as Global CP Pvt Ltd), brand owner of LuvIt Chocolate and confectionary, earlier owned by Goldman Sachs and Mitsui Ventures. 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. Pulse has been a leader in the hard boiled Candy segment for last 7 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/chocolate flavoured lollipops, eclairs, sugar panned chocolates and choco snacks.
Speaking on the occasion, 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. ”
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 Pvt Ltd was founded in 2014 with the drive to ignite consumer experience with innovative, and differentiated products. The company had a turnover of more than Rs100 crores (F/Y 21-22) with nearly 90% 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% share at Rs.13,800 crore. The Indian chocolate market is expected to grow at a CAGR of 6.69% till 2028, according to a report.
The DS Group continues to build successful brands across diverse business categories to delight the consumers, while the undeterred pursuit for ‘Quality & Innovation’ ensures consumer loyalty and satisfaction.