Wellness Franchise Opportunities

AcquisitionJan, 07 2015

Godrej Consumer Products acquires South Africa's hair extensions firm Frika Hair

Seeing net sales of about Rs 39.5 crore in 2014, FMCG major Godrej Consumer Products takes over South Africa’s leading hair extension firm Frika Hair at 100 per cent acquisition.

By Agencies

FMCG major Godrej Consumer Products Ltd (GCPL) has announced its 100 per cent acquisition on South Africa's hair extensions firm Frika Hair for an undisclosed sum in order to consolidate its position in the South African market.

In a BSE filing, GCPL said has confirmed that it has entered into an agreement with Frika Hair (Pty) Ltd for the acquisition of 100 per cent equity stake in its hair extensions business in South Africa.

Commenting on the acquisition, Vivek Gambhir, Managing Director, GCPL said, "This acquisition reflects our continued commitment to scaling up our presence in Africa and providing African consumers with a wide range of superior quality products at affordable prices."

He further added, "We remain very excited by the tremendous potential of the African market and look forward to further building our business."

Presently, GCPL's Africa business has annualised revenues of $200 million. The company has been acquiring brands, especially in the African continent, mostly targeting local firms in emerging markets.

It acquired 51 per cent stake in Darling South Africa in September 2011 and in Darling Mozambique in October 2011. Darling Group Holdings operates in 14 countries across Africa, selling hair extension products under brand names like 'Darling' and 'Amigos'.

Besides having stake in Darling Group, GCPL had also acquired South Africa's Kinky Group in 2008 and hair colour brand Rapidol in September 2006.

The Mumbai-based firm had also acquired Nigeria's personal care brand Tura for an undisclosed sum in 2010. Tura's product range includes soaps, moisturising lotions and skin-toning creams.

 

Image curtesy: Frika Hair FB page

Related: Torrent Pharma announces acquisition of Derma manufacturer Zyg Pharma

Click Here to add Comment
Please add your Comment
Rating
Sell Business 2017
Sell Franchise 2017

Newsletter Signup

Submit your email address to receive the latest updates on news & host of opportunities from Wellness India.

Video

Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.


Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Well Ness India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.