Comments
FMCG player Godrej Consumer Products (GCPL) today said it has acquired 51 per cent stake in African hair care company Darling Group Holdings for an undisclosed amount.
Darling Group Holdings operates in 14 countries across Africa selling hair extension products under brand names like ‘Darling’ and ‘Amigos’
“The Darling Group enables us to take our presence in Africa to the next level...We believe that the strong share positions that the group brands enjoy will further accelerate our trajectory of sustainable profitable growth in the region,” GCPL Chairman, Mr Adi Godrej, said in a statement.
The company said the acquisition will help scaling up its operations in the region and will strengthen its position in the hair care market.
GCPL currently sells hair colours in more than 14 sub-saharan African countries through ‘Inecto’ brand.
Besides, the acquisition is a platform for introducing Godrej home care and personal car products in the region, it added.
Shares of GCPL were trading at Rs 416.50 on the Bombay Stock Exchange, down 0.24 per cent from the previous close.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.