GCPL (Godrej Consumer Products Ltd ) is picking up a 51 per cent stake in the Darling Group for an undisclosed amount. The Rs 1,000-crore Darling Group is a pan-African leading hair-care company with a presence across 14 countries in sub-Saharan Africa. It manufactures and distributes the full range of hair extension products with brands like Darling' and Amigos.

This is the fourth acquisition made by GCPL having acquired African companies like Rapidol, Kinky and Tura in the past. Through this acquisition, GCPL will leverage its product portfolio and capabilities in personal wash, toiletries, household insecticides and air care across the African continent.

Remaining stake

Speaking to Business Line , Mr Vivek Gambhir, Chief Strategy Officer, Godrej Industries, said, “We would be buying out the remaining stake in the Darling Group over a period of 3-5 years in phased manner. The acquisition would serve as platform for distributing our range of household insecticides and personal care products.”

In a press release, Mr Adi Godrej, Chairman, GCPL, said, “We believe that the timing is opportune for us to scale up our presence in the region. More than ever, we are convinced about the tremendous potential that Africa offers. India and Africa have enjoyed a close association spanning multiple decades. There are significant cultural similarities between the regions, along with a rich legacy of Indian diaspora who have made Africa their home. There are also several similarities in the retail and distribution environments across India and Africa. With healthy growth rates projected for the various economies and a sizeable middle class emerging in the region, Africa is clearly the next frontier of growth.”

Related Topics