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Raymond Group has acquired control of brand KamaSutra globally by buying out Ansell’s stake in a joint venture entity known as JK Ansell Pvt. Ltd. Ansell is an Australian company which had 50 per cent stake in the joint venture company. Raymond Group already owned the balance stake.
Under the new deal the Sexual Wellness and Personal care business will be bought out by Raymond for Rs 19.3 crore. This will continue to remain in JK Ansell which will become a wholly owned subsidiary of J.K. Investo Trade (India) Limited, a Raymond Group Company. The gloves business will be sold for Rs 11.3 crore to Pacific Dunlop Holdings (Singapore) Pte. Ltd., which is an Ansell Group Company.
This acquisition will pave the way for Raymond to further scale up the FMCG Business and unlock the immense potential of brand KamaSutra globally. Raymond announced the formation of its FMCG group last year.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “As a part of our Raymond Re-Imagined journey, scaling up and creating a strong FMCG business is an important driver of value creation for the group. This acquisition of Ansell’s 50 per cent stake gives us the full ownership of Brand KamaSutra that strengthens our FMCG portfolio and is a step towards value creation.”
KamaSutra, created 25 years ago by the Raymons Group, now also has presence in the deodorant category.
Giriraj Bagri, President - FMCG Business, Raymond Limited added, “With this acquisition combined FMCG business is expected to be Rs 800 crore consumer value in FY18. This gives us the scale and opportunity to rejuvenate our FMCG brands and strengthen sales & distribution network. Having outlined a detailed roadmap, Brand KamaSutra is poised to become Top 5 global brands in the Sexual Wellness category.”
Raymond Group forayed into the FMCG business in the year 1964 through its subsidiary JK Helene Curtis Ltd. and is instrumental in launching various products in the male grooming space such as Park Avenue range.
Commenting on this development Sanjay Bahl, Group CFO, Raymond Limited said, “This acquisition allows us to structure our FMCG businesses to unlock cost and revenue synergies with our other company JK Helene Curtis leading to a profitable growth.”
Raymond FMCG Business currently has a retail presence through 0.25 million retail outlets including 90,000 pharmacies in the country and exports to South East Asia, Middle East and Africa.
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