The Times of India

March 29, 2005

Avesthagen buys out Waheeda Rehman's firm


Biotech firm Avesthagen has acquired health food company Good Earth Foods for an  undisclosed sum. Good Earth Foods was the brainchild of actress Waheeda Rehman and her partner Ashraffa Sattar.The New company, which is a wholly owned subsidiary of Avesthaegn, will be called Avesta Good Earth Foods.
Avesthagen CEO Dr.Villoo Morawala Patell said the acqusition is part of Avesthagen's long term strategy to launch its branded nutraceuticals as functional foods." We want to target the burgeoning health foods market in India," Patell said.
"The acqusition of Good Earth Foods marks our foray into FMCG market. Our long-term goal is to consolidate the company as a national brand and launch many more products that complement the range", she said.
Avesta Good Earth Foods will initially enter the market with cereals, energy bars, slim bars and biscuits.
 Soon after she was married, Waheeda Rehman left Mumbai and moved to a farm in Bangalore. There she started Good Earth Foods and launched  a brand called  Farm House Cereal. The company soon attained an impressive turnover. Avesthagen did not miss out on the growing prowess of the company  and cashed in, as it felt that there were sufficient synergies between the two firms.