Godrej & Boyce Looks At International Partner

Mumbai: Godrej Appliances, a division of Godrej & Boyce Manufacturing Company is eyeing at an international strategic partner to strengthening its prospects in a new venture, commercial refrigeration. The company is now looking the commercial refrigerator and the cold storage market, where it will look at infusing Rs 70-100 crore in a facility. The demand for chest coolers, commercial refrigerators is going to increase with the opening of more and more large-format retail stores. They are in the process of making an underway into this segment. For its commercial refrigerator segment, the company hopes the demands to come from sectors such as F&B, pharma and hospitality. Godrej Appliances is scouting strategic partnership with an international company in this segment. We are still studying the segment. In India, the cold storage industry is fragmented and there are very few established players.