CVL buys Herbolab, steps into Ayurveda sector

CESC Ventures Ltd. (CVL), a RP-Sanjiv Goenka Group marks its entry into the Ayurvedic medicines segment by acquiring a stake of 64.6% for an amount of Rs. 32.2 crore from the 29-year-old Herbolab India Pvt. Ltd. that is into the business of making Ayurvedic medicines and products.

The company, which has a pan-Indian presence, clocked a turnover of  Rs. 1.94 crore in 2018-19. It has the brand name of ‘Dr. Vaidya’s.’

CVL, which was listed in January this year as part of the recast of the group’s flagship CESC Ltd., has three business segments — business process management, property and FMCG under which there are brands like Too Yumm and Evita. Too Yumm marked the group’s entry into packaged snack foods business in 2017.

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