Germany’s Dr. Oetker acquires start-up Kuppies, forays into ready-to-eat cakes, desserts segment
The Hindu
German packaged food brand Dr. Oetker on Wednesday said it has acquired Noida-based start-up Kuppies, marking its foray into the ready-to-eat cakes and desserts segment.The company, which has a strong
German packaged food brand Dr. Oetker on Wednesday said it has acquired Noida-based start-up Kuppies, marking its foray into the ready-to-eat cakes and desserts segment.
The company, which has a strong presence in categories such as mayonnaise, spreads and Italian sauces under the FunFoods brand, is also targeting to close 2021 with a revenue of ₹400 crore, recording a growth of about 20%, Oliver Mirza, MD and CEO, Indian Subcontinent at Dr. Oetker told The Hindu.
While Mr. Mirza did not reveal financial details of the acquisition, he added that globally cakes and desserts is a significant growth pillar for the firm, and he expects the same in India.
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