Godrej Consumer Products Limited is a leading Indian consumer goods company that offers a wide range of household and personal care products, including Refrigerators, Washing Machines, soaps, liquid detergents, hair colourants, etc. The company delivers its products in almost every part of India and also has a strong presence in several other countries.
However, Godrej has recently signed a mega deal to expand its business and reach into the Indian market. The latest reports say that the company has acquired the FMCG (Fast Moving Consumer Goods) business of Raymond Consumer Care Limited (RCCL), a market giant in deodorants and sexual wellness categories.
Apart from this, Godrej will also acquire the trademarks of various deodorants, such as Park Avenue, Premium, and Kamasutra. According to the reports, The consumer goods companies spent Rs 2,825 crore on this deal. Scroll down to read what Godrej’s CEO and MD, Sudhir Sitapati said in the announcement.
“This Acquisition Allows Us to Complement Our Business Portfolio,” Said Godrej CEO Sudhir Sitapati
via: Google
Sudhir Sitapati, CEO and Managing Director of Godrej recently announced this big news at a conference. The Vice Chairman of Raymond group, Atul Singh has also joined him at the event.
Talking about acquiring Raymond’s FMCG business, Sudhir said “This acquisition allows us to complement our business portfolio and growth strategy with under-penetrated categories that offer a long runway of growth. Raymond is a leading player in the deodorants and sexual wellness categories with brands like Park Avenue and KamaSutra.”
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The CEO also added that these categories of Raymond have the potential to provide double-digit multi-decade growth to the low per capita consumption in India.
Continuing the statement, Atul Singh added, “Having brought these brands to the forefront of consumer recall, we believe that Godrej Consumer Products will provide the requisite impetus to further drive the growth of these brands.”
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