CG Foods Is Looking For Acquisitions In India And Also Plans To Invest Rs.100 Crore In Building Factories.

Wai-Wai-Noodles1CG Foods, a division of the Cinnovation Group from Singapore, said it will invest Rs.100 crore over the next three years to enlarge its manufacturing capacity in India.

Nirvana Chaudhary, The managing director of CG Foods, said that ‘We plan to set up two new manufacturing plants in India this year and also expand the existing plants. By 2014, we will be investing Rs.100 core in India,’ CG Foods manufactures Wai Wai noodles which is a very popular brand. They plan to build a factory at Rudrapur in Uttarakhand, investing Rs.20 crore next month. At the end of 2011, they plan to build a second plant in Gujarat.

‘We are also looking for acquisition opportunities, especially to expand our business in southern and western parts of India,’ Chaudhary said. In addition, CG Foods is prepared to spend up to RS.1,000 Crore to strengthen its position in India, primarily through acquisitions.