GCPL completes 100 pc stake acquisition in SA's Kinky
FMCG company Godrej Consumer Products on Tuesday said that it has completed the acquisition of 100 per cent stake in South Africa's Kinky Group (Proprietary) Ltd.
By PTI |
MUMBAI: FMCG company Godrej Consumer Products on Tuesday said that it has completed the acquisition of 100 per cent stake in South Africa's Kinky Group (Proprietary) Ltd.
The purchase price paid for the acquisition is around South African Rand 265 million, a press release issued here said.
Kinky is one of the leading players in the South African hair business and offers a variety of products including hair, hair-braids, hair pieces, wigs and wefted pieces.
"It gives us the opportunity to enter into a new line of business and diversify our hair product portfolio. Through Kinky, we can further expand our presence in South Africa where we are already present with our acquisition of Rapidol Pvt Ltd," GCPL's Chairman and Managing Director, Adi Godrej, said in the release.
GCPL had acquired Rapidol in September 2006.
The purchase price paid for the acquisition is around South African Rand 265 million, a press release issued here said.
Kinky is one of the leading players in the South African hair business and offers a variety of products including hair, hair-braids, hair pieces, wigs and wefted pieces.
"It gives us the opportunity to enter into a new line of business and diversify our hair product portfolio. Through Kinky, we can further expand our presence in South Africa where we are already present with our acquisition of Rapidol Pvt Ltd," GCPL's Chairman and Managing Director, Adi Godrej, said in the release.
GCPL had acquired Rapidol in September 2006.
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