Discovery acquires majority stake in FoodFood

13 May,2016

By A Correspondent

 

Discovery Communications announced an agreement to partner with India’s top culinary celebrity Sanjeev Kapoor, by acquiring a majority share in Turmeric Vision Private Limited, which owns and operates pay-TV network, FoodFood and its digital products.

 

Discovery’s investment in FoodFood underscores its strategy to deepen and expand its presence in India to grow audience share across all screens, and to complement and strengthen its existing portfolio of female and lifestyle brands including TLC and ID. Tapping into the growing appetite for food programming amongst women across India, Discovery plans to support FoodFood’s 100% focus on local programming and products, and to drive further value from the ongoing digitalisation of India. Discovery has also agreed to sell FoodFood’s advertising, effective immediately.

 

Sanjeev Kapoor will continue to star in and produce programming for FoodFood as its brand ambassador, and will remain a minority shareholder in the business.

 

Arthur Bastings, President & Managing Director, Discovery Networks Asia-Pacific, said, “Discovery’s investment in FoodFood further boosts our presence in this important market and broadens our portfolio by adding a category of content that people love. We are excited to partner with the exceptionally talented team, including culinary guru Sanjeev Kapoor, who singlehandedly revolutionised the food television genre in India. Sanjeev’s creative flair and personality combined with Discovery’s content and operational expertise is the perfect recipe for FoodFood’s evolution.”

 

“Food is no longer just fuel for the body; it has become a social currency that is appreciated universally. We look forward to deepening FoodFood’s engagement, particularly in digital, and widening its community outside of India,” Bastings added.

 

Sanjeev Kapoor, Promoter, Turmeric Vision Private Limited, said, “FoodFood is widely admired for its highly relevant, topical, varied, entertaining and delectable programming. I am delighted to become a part of the Discovery family and I am confident that this partnership will strengthen FoodFood’s reach and affinity with consumers, advertisers and distributors.”

 

Turmeric Vision Private Limited will be managed as part of Discovery’s Asia-Pacific region led by Bastings. Completion of the transaction is expected to occur in the coming weeks, subject to regulatory approvals.

 

 

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