ITC Limited (NSEI:ITC) will look for acquisitions. The company is also actively pursuing acquisitions opportunities in FMCG and IT business, while it has lined up investments of INR 100.00 billion over the next three years. Chairman Sanjiv Puri has said the FMCG business was incubated as part of the company to leverage institutional strengths such as sales channel, commercial, lower cost, product development synergies and hence the cost of building the business has been far more efficient this way. Similarly, the hotel and paper businesses were initially separate but were subsequently merged for a purpose, he said. Puri has said ITC is actively exploring opportunities for acquisition in the FMCG and IT business. These will be an integral part of the growth strategy of the company, he said. In FMCG, ITC is open to acquire regional brands or to enter new areas or adjacencies, however it will be choosy, the deal has to be value accretive and will not buy anything at extremely high valuation.