Godrej plans to buy out rest of African hair care company Darling in three to five years, looks to increase presence in personal care products business, specifically hair color, insecticides, soaps in Asia, Africa, Latin America
December 2, 2011
– Godrej Consumer Products Ltd. plans to buy out African hair care company Darling Group Holdings within the next three to five years to strengthen its presence in Africa's fast-growing personal care market, the Indo-Asian News Service reported Dec. 1.
The company acquired a 51% stake in the Darling Group this past June for an undisclosed amount.
Godrej is looking to increase its presence in the personal care products business, specifically hair color, insecticides and soaps in Asia, Africa and Latin America.
“Before acquiring Darling, we were present only in two countries (in Africa) -South Africa and Nigeria. Now the 14 country presence of Darling will help us,” managing director A. Mahendran said, Indo-Asian News Service reported.
Darling Group operates in 14 countries in Africa and sells hair extension products under the Darling and Amigos brands.
The primary source of this article is the Indo-Asian News Service, Kolkata, India, on Dec. 1, 2011.