Hotline: 1800 102 2007
X
Search Business Opportunities
Acquisition 2015-01-07

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.

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

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

Comment
Related opportunities
  • Casual dine Restaurants
    About: “Farmer & Sons" aspires to expand its presence as the..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: School of International Languages promises excellent learning atmosphere to..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Laundry & Dry Cleaning
    About U Clean: At UClean, we are building India's first organized..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi New Delhi
  • Casual dine Restaurants
    About Us: As the name suggests, Dhadoom is a fun brand..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts