The giant FMCG Company in India, Godrej Consumer Products Ltd (GCPL) has made an official announcement on Tuesday and informed that it has recently completed the acquisition of a 100% stake in the Kinky Group (Proprietary) Ltd of South Africa. The company has stated in the official statement that it has made an investment of around South African Rand 265 million for acquiring the companys entire stake.
According to one of the top officials of the Godrej Consumer Products Ltd, the Kinky has already established itself as one of the leading players in the South African hair business. The official added that the company is also offering a variety of products that include the hair, hair-braids, hairpieces, wigs and wafted pieces, to its consumers.
While commenting on the latest acquisition of the company, the Chairman And Managing Director of GPCL, Mr. Adi Godrej said in the statement, "It gives us the opportunity to enter into a new line of business and diversify our hair product portfolio. Through Kinky, we can further expand our presence in South Africa where we are already present with our acquisition of Rapidol Pvt Ltd". He informed that the company did acquire the Rapidol in the month of September 2006.
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| Posted : 4/3/2008 |
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