Indian FMCG major, Dabur, has bought US-based haircare company, Namaste Laboratories and its three subsidiaries for $100 million in an all-cash deal.
“Namaste’s hair straightening lotions and hair oils are hugely popular with African Americans in the US. It sells well in Africa and Nigeria too. Moreover, the transaction will enhance Dabur’s profitability, increase stakeholder value and add substantially to its presence in India. The group has a complimentary product mix that can be easily integrated with Dabur,” says Anand Burman, Chairman, Dabur India.
Namaste Laboratories was founded in 1996 to cater to the special haircare needs of women of African descent. Its products are available in the mass, retail, beauty stores and salons in many countries, such as Africa, Middle East, Europe and the Caribbean region of North America.
Dabur is one amongst other Indian consumer product companies, such as Marico, Godrej Consumer Products and Wipro Consumer Care, trying to turn into a multinational with a presence in high-growth markets, such as Africa, West Asia, Southeast Asia and South Asia, through acquisitions.
Posted on: 17.11.2010
Source: www.economictimes.com
