MAM
Dabur acquires majority stake in Badshah Masala
Mumbai: Dabur India has announced that it has signed definitive transaction agreements to acquire 51 per cent shareholding of Badshah Masala,which is engaged in the business of manufacturing, marketing and export of ground spices, blended spices and seasonings.
This acquisition is in line with Dabur’s strategic intent to expand its foods business to Rs 500 crore in three years and expand into new adjacent categories. This also marks Dabur’s entry into the over Rs 25K crore branded spices and seasoning market in India.
Dabur has acquired 51 per cent stake in Badshah for Rs 587.52 crore, less proportionate debt as on the closing date, with Badshah being valued at Rs 1,152 crore. This translates to a revenue multiple of around 4.5x and EBIDTA multiple of around 19.6x of FY’ 22-23 estimated financials.
Announcing the acquisition, Dabur India chairman Mohit Burman said, “The Indian spices and seasoning category is a large and attractive market. Badshah Masala is one of the key players in this space. Our investment in Badshah Masala will help expand this business and continue to provide unmatched quality products. This acquisition will accelerate our growth strategy as we continue to build our Foods business. We intend to leverage our international market presence to grow this business globally.”
“The transaction is expected to be Cash EPS neutral in the first year and accretive thereafter. The acquisition is expected to be completed within this fiscal. As per our agreement, we will acquire the balance 49% shareholding after 5 years,” Dabur India group director P. D. Narang said.
Dabur India CEO Mohit Malhotra said, “Branded Spices market in India is growing at healthy double digits, led by increasing consumption, upgradation from unbranded to branded and growing preference for regional flavours across states. The market is dominated by regional players and holds significant potential for growth in the future. Dabur has an existing Foods portfolio and views ground and blended spices as a good addition to this portfolio. Badshah portfolio will gain from Dabur’s extensive distribution reach. We look forward to unlocking further synergies and market opportunities to capture the full potential of Badshah Masala.”
Badshah Masala Private Limited Managing Director Mr. Hemant Jhaveri said, “We are delighted to enter into a strategic partnership with Dabur. Dabur stands for Trust and Heritage and joining hands with Dabur will help drive the future growth potential of Badshah on a stronger trajectory. Our companies are a great fit. This transaction will enable us to accelerate our growth by adding our products to Dabur’s broad portfolio to meet the needs of consumers across geographies.”
Ajay Shah, advisor to Badshah Masala said, “This strategic investment of Dabur brings together two strong Indian brands. This deal is growth oriented, mutually complementary, value accretive and beneficial for both the companies.”
MAM
Lego brings Messi, Ronaldo, Mbappé, Vinicius together
Campaign clocks 314 million views ahead of FIFA World Cup 2026 buzz.
MUMBAI: Four legends, one frame and not a single tackle in sight. Lego has pulled off a crossover few thought possible, uniting Lionel Messi, Cristiano Ronaldo, Kylian Mbappé and Vinícius Júnior in a single campaign ahead of the FIFA World Cup 2026 only this time, they’re building dreams brick by brick.
Titled “Everyone wants a piece”, the campaign features the quartet assembling a Lego version of the World Cup trophy, before placing miniature versions of themselves atop it, a playful nod to football’s ultimate prize. Shared widely across social media, the ad carries a pointed disclaimer: it is not AI-generated, a subtle but telling signal in an era where even reality is often questioned.
The numbers tell their own story. The campaign has already crossed 314 million views on Instagram across the players’ accounts, with fans hailing it as a rare, almost nostalgic moment particularly for the reunion of Messi and Ronaldo, whose last shared campaign ahead of the 2022 World Cup became one of the platform’s most-liked posts.
Beyond the film, Lego is extending the play with exclusive, player-themed sets tied to each of the four stars, part of a broader football-led programme designed to ride the global momentum building towards 2026. The idea, as echoed by the players themselves, leans into the parallels between football and play experimentation, creativity, failure, and triumph.
Messi described the sets as a way to bring on-pitch moments into an imaginative, hands-on world, while Ronaldo called the transformation into a Lego figure a rare honour, blending sport with storytelling. Vinícius, meanwhile, struck a more personal note, recalling childhood moments of building with Lego and framing creativity as a universal language that transcends borders.
The timing is no accident. With the 2026 World Cup set to run from June 11 to July 19 across the United States, Canada and Mexico, and featuring an expanded 48-team format, global anticipation is already building. Argentina, led by Messi, will enter as defending champions, adding another layer of intrigue.
For Lego, the campaign does more than celebrate football, it taps into its mythology. Because when icons become figurines and rivalries turn into play, the beautiful game finds a new kind of pitch. one built, quite literally, by hand.
