2/13/2017 MelamJVtospiceupnewfiscalTimesofIndia

Printedfrom

Melam JV to spice up new scal

TNN | Apr 1, 2012, 06.15 AM IST

KOCHI: The news of proposed restructuring of one of Kerala's biggest brands is ushering in scal 2012-13 to Kerala.

The Melam group is contracting business consultancy Deloitte to identify a market major in the fast moving consumer goods
sector with a view to forming a joint venture to manage the company.

Leading curry powder manufacturer Melam group is looking to retain 51% of the total shareholdings in any operational JV
formed to run the company, said Kurian John Melamparambil, chairman and managing director.

"Deloitte will help us nd a partner from the FMCG sector to form a JV to manage the company. I may continue as chairman
only on an advisory basis," Melamparambil said. A team from Deloitte Bangalore is expected to arrive in Kochi soon to discuss
the company's future roadmap.

Melam has four companies under its umbrella - MVJ Foods India Pvt Ltd, which caters to seasonings and avourings targeted at
the domestic market; MVJ Spices marketing pickles, jam sauce and oats; MJ Associates which exports to overseas markets in
22 countries; and Melam Securities, a stockbroking rm registered with the Cochin Stock Exchange. The group has an
employee strength of more than 350 people and operates two factories in Ernakulam district.

The whole idea behind forming the JV and eventual restructuring of the 100-crore company is that of 57-year-old
Melamparambil. Once the transition happens and the functioning of Melam group continues along the envisaged road map,
Kurian plans to retire from active business life.

He has kept a two-year deadline for this. "By 2014, the process would be complete. Then I can focus totally on charitable
activities,"' he added.

http://timesofindia.indiatimes.com/city/kochi/MelamJVtospiceupnewfiscal/articleshowprint/12488265.cms?null 1/2
2/13/2017 MelamJVtospiceupnewfiscalTimesofIndia

"I was thinking of retiring when I nished 25 years of charity work," Melamparambil told TOI. "I had started o with philanthropic
activities, and wish to retire that way," he said.

Kurian founded the Melamparambil Varghese John Memorial Charities (Melam Charities) in 1986, and six years later founded
the Melam group to fund his social work. Till date, Melamparambil has spent more than Rs 15 crore on charitable activities.

Melam Charities picks the needy across the state through the 138 members of the Kerala Assembly, and sponsors their
treatment through 910 hospitals registered with the charity. Till date, 1.25 lakh people have beneted from the project.

http://timesofindia.indiatimes.com/city/kochi/MelamJVtospiceupnewfiscal/articleshowprint/12488265.cms?null 2/2