Mumbai, Apr 7: Godrej Consumer Products Ltd (GCPL) has announced that it has sealed the deal to acquire Indonesian firm PT Megasari Makmur Group, as well as its distribution arm.
"The Megasari Group provides us a strong platform to establish a significant foothold in Indonesia, which is among the largest consumer markets in Asia," GCPL chairman Adi Godrej said in a statement on Tuesday, Apr 6.
According to analysts, the deal is valued at around Rs 1,000-Rs 1,200 crore.
Godrej said the acquisition will help to strengthen its presence in Asia, Africa and Latin America.
"Besides, it will also provide a platform for launching home care and personal care products from the Godrej stable in Indonesia," the company chairman added.
The Megasari acquisition is the fourth one by the company in the past two years, after Rapidol and Kinky in South Africa, and Tura in Nigeria.