New Delhi, July 26 -- Bengaluru/Mumbai: The battle for South India's spice and packaged foods market is heating up, with Wipro Consumer Care & Lighting and the Murugappa Group vying for Kerala-based packaged foods brand Double Horse. The development reflects the ongoing consolidation in India's regional packaged foods industry, as consumer goods companies prefer acquisitions to building brands from scratch.

Manjilas Food Tech Pvt. Ltd, which owns Double Horse, has hired EY to advise on the transaction, a person aware of the matter said on the condition of anonymity, adding the deal is expected to be valued at around Rs.500 crore. "The process is underway, and discussions with the shortlisted bidders are ongoing. However, no final decisio...