New Delhi based specialty chemicals firm Vikas Multicorp Ltd. recently announced that it will enter the food protection and personal hygiene segment of the FMCG industry with an investment of approximately Rs 100 crore in two years.
Without divulging details of the deal, the company said it has acquired trademarks of food packaging and tissue paper brands - Homefoil, Chapati Wrap, Cleanwrap and Mistique.
Vikas Multicorp said with the acquisition of the brand portfolio, the company is initiating the process to identify and acquire an existing patent for manufacturing these items.
The company is planning to foray in to complete solutions for food protection, and packaging personal hygiene needs of Indian households at one stop shop.
The company is further riding high on the growing disposable income, which is encouraging Indian population to make regular use of hygienic and aesthetic solutions, which were once considered expensive and reserved for special occasions, rising working population, focus on education are also resulting in increasing requirements of packed home cooked food at workplace and personal hygiene products.