Discovery Communications India Pvt. Ltd—which is part of Discovery Communications, Inc that offers non-fiction TV programmes through more than 50 channels—has agreed to acquire a majority stake in Turmeric Vision Pvt. Ltd, which runs food channel Food Food, it said in a statement.
Turmeric Vision is a joint venture between celebrity chef Sanjeev Kapoor, Malaysia-based Astro Overseas Ltd and adman Sandeep Goyal's marketing and communication agency Mogae Consultants.
The acquisition is subject to regulatory approvals. Post the completion of the transaction, Kapoor will retain a minority stake in the channel, while Turmeric Vision will be managed as part of Discovery’s Asia Pacific region led by Arthur Bastings, president and managing director, Discovery Networks Asia Pacific.
“Discovery’s investment in Food Food boosts our presence in this market and broadens our portfolio by adding a category that people love,†said Bastings.
According to the company, its investment in Food Food underscores its strategy to expand its presence in India across channels and strengthen its existing portfolio of female- and lifestyle-focused TV networks, including TLC and Investigation Discovery (ID).
Discovery will help Food Food enhance its local programming and products. The network will also handle Food Food’s advertising sales.
“Food Food is admired for its topical, varied and entertaining programming. This partnership will strengthen Food Food’s reach and affinity with consumers, advertisers and distributors,†said Sanjeev Kapoor.
Launched in 2011, Food Food has a growing presence among the Indian diaspora across the world.
Like this report? Sign up for our daily newsletter to get our top reports.