Dharampal Satyapal Group (DS Group) announced the successful acquisition of The Good Stuff Pvt Ltd, the parent company of the popular LuvIt Chocolate and confectionery brand. This strategic move allows DS Group to enter the competitive chocolate segment and further strengthen its confectionery portfolio, which it initially ventured into in 2012. Currently, DS Group boasts a diverse range of brands, including Pass Pass, Maze, Chingles, and Pulse.
Prior to the acquisition, The Good Stuff was owned by Goldman Sachs and Mitsui Ventures, according to a statement released by DS Group. However, specific financial details of the deal were not disclosed. In its official statement, DS Group emphasized that this acquisition aligns with its strategic objectives of expanding and fortifying its confectionery portfolio while simultaneously broadening its distribution network across various retail outlets and grocery channels.
Rajiv Kumar, Vice Chairman of DS Group, explained that the decision to acquire LuvIt was driven by the company’s vision to enhance its confectionery offerings and enter the chocolate segment. By expanding its product portfolio, DS Group aims to reach new consumers and explore untapped markets. Kumar further highlighted that LuvIt, as a brand, seamlessly complements DS Group’s existing portfolio and aligns with their commitment to innovation and premium quality.
Established in 2014, The Good Stuff reported a turnover exceeding Rs 100 crore in the fiscal year 2021-2022, with LuvIt accounting for around 90 percent of the revenue. The Indian confectionery market, valued at approximately Rs 23,000 crore, is predominantly dominated by the chocolate category, holding a substantial 60 percent market share.
According to a report, the Indian chocolate market is projected to grow at a compound annual growth rate (CAGR) of 6.69 percent until 2028.
