Dabur South Africa To Acquire Two Personal Care Product Firms For Rs 25 Crore
Dabur will make the acquisitions for a total cash consideration of around Rs 25 crore.
Dabur South Africa (Pty) Ltd, the wholly-owned subsidiary of Dabur India Ltd., will acquire two personal care product companies in that country for a total cash consideration of 50 million rands (about Rs 25 crore).
The companies are D&A Cosmetics Proprietary Ltd. and Atlanta Body and Health Products Proprietary Ltd.
Dabur South Africa has entered into a share purchase agreement to acquire D&A Cosmetics and Atlanta Body and Health Products on or before June 1, 2018, Dabur India said in a filing on the BSE.
While D&A Cosmetics would be acquired at a cost of 4,79,40,000 rands (around Rs 24 crore), Atlanta Body and Health Products will be acquired for 20,60,000 rands (over Rs 1 crore). Both the companies are engaged in business of personal care and hair care products.
Last year, the homegrown fast moving consumer goods major had acquired a South Africa-based Discaria Trading (Pty) Ltd. for an undisclosed amount.
In April this year, the company had announced completion of acquisition of personal, hair care and creams businesses of South Africa based-CTL Group of companies valued at $1.5 million.