Saturday June 10, 2023
The News Strike
24NewsHour
The News Equity The News Equity
  • Home
  • Business
  • News Update
  • Education
  • Technology
  • Sports
  • Others
    • Entertainment
    • Law
    • Health
  • About
The News Equity

Breaking News

Caution for Investors

Rich tributes paid to late S. P. Hinduja in Dubai

  1. Home
  2. Business
  3. Godrej Consumer Products Limited enters into agreement to acquire the FMCG business of Raymond Consumer Care Limited
 Godrej Consumer Products Limited enters into agreement to acquire the FMCG business of Raymond Consumer Care Limited
Sudhir Prajapati of HUL
Business

Godrej Consumer Products Limited enters into agreement to acquire the FMCG business of Raymond Consumer Care Limited

by thenewsequity April 28, 2023 0 Comment

Mumbai, India – April 28, 2023: Godrej Consumer Products Limited (GCPL) today announced that it has entered into an agreement to acquire the FMCG business of Raymond Consumer Care Limited (RCCL), a leading player in the deodorants and sexual wellness categories in India. The RCCL FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale.

Commenting on the announcement, Sudhir Sitapati, Managing Director and CEO, GCPL, said:

“We are excited to welcome the Raymond Consumer Care team and brands to Godrej Consumer Products. 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. These categories have the potential to deliver double-digit multi-decade growth given the low percapita consumption in India compared to similar emerging markets. Per-capita consumption (USD) of deodorants in India is 0.4x that in Indonesia, 0.05x that in Brazil and 0.04x that in the USA. We
look forward to building on this potential by unlocking the significant integration synergies with our
business.”

Atul Singh, Group Vice Chairman, Raymond Group, added: 

“We have divested our FMCG business with trademarks of Park Avenue, Kamasutra for FMCG
categories to Godrej Consumer Products. We take pride in building strong homegrown brands that are amongst the leaders in their categories. Having brought these brands at the forefront of consumer recall, we believe that Godrej Consumer Products will provide the requisite impetus to urther drive the growth of these brands.”

Previous post
Next post

thenewsequity (Website)

administrator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CATEGORIES

  • Business
  • Education
  • Entertainment
  • Health
  • News Update
  • Politics
  • Sports
  • Technology
  • TNE
The News Equity The News Equity

Get The Post

Business
News Update
Education
Technology
Sports

Other Links

Entertainment
Law
Health

Quick Links

About Us
The News Strike
24 News Hour

Follow Us

Subscribe

© Copyright 2023. All rights reserved.