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Home > Trade News > Marico acquires herbal bath soap Manjal from Kerala co
Marico acquires herbal bath soap Manjal from Kerala co
 
Marico acquires herbal bath soap Manjal from Kerala co
Haircare major Marico has acquired herbal bath soap brand Manjal from Kerala -based Oriental Extractions for an undisclosed consideration .With this acquisition ,Marico has strengthened its retail network in Kerala and will now make a direct entry into the soap market in India.Internationally the company is present in the soap market in Bangladesh.Manjal has an annual turnover of about Rs 9 crore,largely in Kerala ,with a growing market share.The soap was so far marketed under the banner of SD Pharmacy,a sister concern of Oriental ,with over 65 years of expertise in ayurvedic proprietary medicines and OTC products in Kerala."A senior official from Marico said "Our primary objective in acquiring Manjal has been to strengthen our presence in Kerala,through extending the Marico range of products to yet another category.We expect that Manjals retail reach of around 50,000 outlets will complement Parachutes reach of a similar number in Keral and help Marico fortify its network."Currently Marico has 12 brands across the personal care and wellness categories,and a presence in around 25 countries.Marico is worth Rs 1,700 crore in market capatilisation.The Parachute coconut oil franchise reported a growth of 6% during FY05 and a market share above 50%.Maricos net sale grew by 12% in FY05 to touch Rs 948 crore.
Posted On : 1/4/2006 12:32:49 PM

 
 
 
Marico acquires herbal bath soap Manjal from Kerala co