New Delhi: Foods major Nestle India is looking at acquiring companies as an inorganic route to growth. Officials said the company is on the lookout for acquisitions, which are a strategic and cultural fit with its existing portfolio.

The company recently bought out Novartis Medical Nutrition for $2.5 billion, which significantly strengthened its health and nutrition portfolio.

Other buyouts included Jenny Craig, a weight loss management company which it acquired for $600 million, and Australian nutrition and cereal maker Uncle Tobys for $670 million.

Market grapevine has it that Nestle is considering re-entering the packaged water business though the company has no immediate plans to introduce Movenpick ice-cream in India.

The company is bullish on the dairy sector in India and is now looking at introducing value added SKUs for liquid milk in the country. It has relaunched flavoured dahi under the Milkmaid brand franchise.

Nestle has been posting over 10 per cent growth for the past four years and has made a series of organisational changes recently.