DS Group, the makers of Rajnigandha pan masala and Catch spices, is looking to acquire the Great India Place (GIP) Mall in Noida in a deal that is likely to be around Rs 2000 crore, Mint quoted sources as saying. This would make it one of the biggest players in Noida's real estate sector. The once-popular Noida mall's business suffered huge losses because of the COVID-19 pandemic and from newer malls coming up in its vicinity.
The GIP Mall was jointly developed by the Appu Ghar Group and the Unitech Group. Now, Unitech holds 42% of the mall, while other investors own the rest.
A DS Group spokesperson said, "We are always evaluating potential business opportunities but no bid has been submitted for Great India Place Mall."
Who are the founders of DS Group?
DS Group, which also makes the popular candy Pulse, was founded by Dharampal ‘Sugandhi’ and Shri Satyapal ‘Sugandhi’. Lala Dharampal ‘Sugandhi’ came to Delhi from Haryana's Karnal and began learning the unique characteristics of itr - its genesis, its characteristics and its use.
The business was founded in 1929 when Dharampal set up a perfumery shop in Chandni Chowk. His son Satyapal's (the S) in-depth knowledge of perfumes earned him the title of ‘Sugandhi’ (perfumer). He is credited with blending tobacco with various exquisite fragrances. He also introduced chewing tobacco brands such as Baba and Tulsi as well as pan masala (a betel nut product) brand Rajnigandha.
Headquartered in Uttar Pradesh's Noida, DS Group is now led by Ravinder Kumar, who is the Chairman, and Rajiv Kumar, who is the Vice Chairman. They are both Satyapal's sons.
The company began diversifying in the non-tobacco business in 1987 and now owns brands in sectors ranging from hospitality to dairy.
Brands owned by DS Group
The main brands owned by DS Group are Catch, Pulse, FRU, Maze, Pass Pass, Rajnigandha, Rajnigandha Pearls, BABA, Tulsi, Ksheer, Snack Factory, Birthright, The Manu Maharani, Namah, L’Opera, Le Marche and Nature’s Miracle.
The DS Group, with an estimated revenue is Rs 5,500 crore, in July acquired Bengaluru-based Viceroy Hotels, which owns the Marriott-managed Renaissance Bengaluru for Rs 300 crore.
