Scouting for more global acquisitions: Marico

NEW DELHI: Continuing with its acquisition spree, FMCG player Marico Industries today said it is looking at buying out more companies and brands in the Asian and African regions as part of its expansion plan.

The firm, which sells hair oil brands like 'Parachute', said it is planning to introduce products from its recently- acquired Singapore-based personal care brand Derma RX in India in the next two months.

"Regarding acquisition, we are looking at Asian and African geographies," Marico CMD Harsh Mariwala told reporters on the sidelines of a FICCI event.

Marico, which acquired Singapore-based personal care firm Derma RX in May, will launch the brand in India by October.

"Derma RX products will be launched in India in the next two-three months," Mariwala said.

This year, Marico has made three global acquisitions. In January, the company bought Malaysian personal care brand Code 10 from FMCG giant Colgate-Palmolive for an undisclosed sum. It had also bought South African over-the-counter health care brand 'Ingwe' last month.

Asked if the company planned price hikes in the wake of rising input costs, he said :"No prices increases as of now."

However, last month, the company had said it is looking at increasing prices of its flagship hair oil brand 'Parachute' and edible oil brand 'Saffola' to offset the rising input cost.

The company had also said it is reviewing the prices of its other brands as well.