The nation’s largest retailer, Pantaloon Retail plans to spin off at least five of its brands and merge them with Capital Foods, as Kishore Biyani looks to consolidate the foods businesses under one company. Mr Biyani will have Indian television’s most popular culinary showman Sanjeev Kapoor, as a venture partner.
Capital Foods is owned by Future Ventures and other investors. Dairy products brand Fresh & Pure, Tasty Treat cereals, Golden Harvest spices, Ektaa and Punya edible oils will be merged with Capital Foods, leading to Pantaloon shareholders getting a yet-to-be decided stake in the company.
Mr Biyani is looking to establish the company in the foods market by pushing for recipes of Indian origin with Mr Kapoor’s decades of experience in preparing such delicacies, while global companies sell products developed in the Western market where tastes and preferences are different.