Bennett, Coleman &Company Limited (BCCL) has taken options to buy upto 12% equity in Dalmia Continental Pvt. Ltd. (DCPL), promoters of Leonardo Olive Oil and Hudson Canola Oil. Leonardo Olive Oil is the market leader and No.1 brand of Olive Oil in the nation and holds 30% share in the Olive Oil market. Hudson Canola Oil is the leading Canola Oil imported from Canada.
In 2011-12, Leonardo Olive Oil experienced a growth rate of 120% in total revenue with sales of Rs 40 crores. The Olive Oil sector in India grew at 45% over the same period. Leonardo is the pioneer in the introduction of Olive Oil for Indian cooking which is the successful strategy behind its high growth rate and acceptance by the Indian consumer.
VN Dalmia, Chairman of Dalmia Continental said “we will not rest until olive oil becomes the main cooking medium in India. The high mono-unsaturated fat in Olive Oil prevents heart disease, reduces cholesterol, fights diabetes and controls hypertension. There is also higher purpose behind our efforts: to improve the health of the nation. Our sole aim is not only to make profits”.
