Dabur India Ltd, one of India’s leading FMCG companies, has acquired women’s skin care products major Fem Care Pharma Ltd. With this development, Fem Care has become a subsidiary of Dabur India Ltd. The transaction is approved at a board meeting of the company held in Mumbai, according to a company press release.
Earlier in November 2008, Dabur India Ltd had acquired 72.15 per cent of Fem Care for Rs 203.7 crore in an all-cash deal. After obtaining the regulatory approvals, the company has acquired additional 20 per cent stake for Rs 54 crore through an open offer.
Speaking on this development, Sunil Duggal, CEO, Dabur India Ltd, said, “With this acquisition, Dabur has consolidated its position as a leading Indian consumer goods company with presence across key categories like skin care, hair care, oral care, health care and foods. The acquisition is part of our strategy to accelerate growth in our core FMCG business. We are now focused on quickly seizing the attractive opportunities this transaction has created for us to increase top-line growth as well as achieving significant cost synergies.”
“Besides an entry into the high-growth skin care market with an established brand name Fem, this transaction also offers Dabur a strong platform to enter newer product categories and markets,” added Duggal.
Fem Care Pharma has strong presence in the fairness bleach, hair removal and liquid soap category. The company also has a sizeable international market presence in markets including Yemen, Maldives, Mauritius, Malaysia, UAE and Oman, the release added.
— IndiaRetailing Bureau
