Godrej Consumer Products Ltd (GCPL) has completed acquisition of US-based Strength of Nature LLC after approval from the Federal Trade Commission and US Department of Justice.
According to a report in PTI: “The approval has been received and the company has completed the acquisition, through a wholly-owned subsidiary of the company,” GCPL said in a BSE filing.
On April 1, 2016, GCPL had announced the acquisition of 100 per cent equity stake in Strength of Nature LLC (SON), USA, through a wholly-owned arm, which was subject to the approval of Federal Trade Commission and Department of Justice, USA.
SON is a leading company of hair care products for women of African descent. GCPL had stated that the acquisition would scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent.
Under its 3 by 3 strategy – a presence in emerging markets in Asia, Africa and Latin America through 3 core categories namely, hair care, home care and personal care – GCPL has been scaling up international presence.
SON’s product portfolio includes Wet Hair Care, across relaxers, maintenance, styling and shampoos.
BRAND HISTORY
Godrej Consumer Products Limited (GCPL) is an Indian consumer goods company based in Mumbai, India. GCPL’s products include soap, hair colourants, toiletries and liquid detergents. Its brands include ‘Cinthol’, ‘Godrej Fair Glow’, ‘Godrej No.1’ and ‘Godrej Shikakai’ in soaps, ‘Godrej Powder Hair Dye’, ‘Renew’, ‘ColourSoft’ in hair colourants and ‘Ezee’ liquid detergent. GCPL currently operates several manufacturing facilities in India spread over seven locations and grouped into 4 Operating Clusters at Malanpur (Madhya Pradesh), Guwahati (Assam), Baddi- Thana (Himachal Pradesh), Baddi- Katha (Himachal Pradesh), Pondicherry, Chennai and Sikkim.
ACQUISITIONS
GCPL has bought out foreign companies such as Keyline Brands Limited (United Kingdom) in 2005, Rapidol (Pty) Limited in 2006, and Godrej Global Mid East FZE in 2007 and the joint venture with SCA Hygiene Products AB, Sweden in 2007.
GCPL owned a 49 per cent non-controlling share in Godrej Sara Lee Limited (GSLL), an unlisted joint venture between the Godrej Group and Sara Lee Corporation USA, as of early 2010. In May 2010, it acquired Sara Lee’s 51 per cent controlling share.
In 2010, Godrej made several acquisitions, including Indonesian firm Megasari and Tura. In addition, Godrej entered Latin America with the acquisition of Issue Group and Argencos in Argentina, and later acquired Cosmética Nacional, a Chilean company.
In 2015, Godrej announced it had fully acquired a 100 per cent equity stake in South African hair extensions firm Frika Hair.
GCPL had stated that the acquisition would scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent.
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