S H Kelkar and Company has received an approval to acquire remaining 49% stake in Italy based - Creative Flavours and Fragrances SpA (CFF) during the second half of the calendar year 2019. The Board of directors of the company at its meeting held on June 10, 2019 has approved for the same.
The company had entered into an agreement to acquire CFF in January 2018. The agreement was for acquisition of 100% share capital of CFF, in tranches, over two to three years. In the first tranche, the company had acquired 51% stake in 2018.
S H Kelkar and Company is a fragrance manufacturer in India. The company operates in two segments: Fragrances, which manufactures/trades in Fragrances and aroma ingredients for Fragrances, and Flavours, which manufactures/trades in Flavors.