Godrej Consumer completes acquisition of Rapidol

Mumbai, Sep 1 (UNI) Godrej Consumer Products Ltd (GCPL) has completed the acquisition of South African business of Rapidol, U K as well as its subsidiary Rapidol International.

Announcing this to BSE, the company said it had in July this year entered into an agreement to acquire these entities subject to certain regulatory approvals.

The acquisition is expected to give the company an access to large and fast growing African hair colour market, ownership of strong brands and the opportunity to introduce its 'value for money' product portfolio in those geographies.

The Rapidol acquisition gives the company ownership of strong ethnic hair colour brands like 'Intecto' and 'Soflene' in ten countries. It also gives the company an opportunity to enhance its global presence through the Modern Trade Network and the ownership of customer listings of the 'Intecto' and 'Sofelene', the release added.

Further, through this acquisition, the company would be able to launch to introduce some of its products which would include other hair colour offerings and the FairGlow and Evita soap brands in the African continent. The company also intends to leverage its high quality yet low cost manufacturing skills to enhance the present offerings.

Rapidol's distribution network exists in South Africa and other African nations such as Zambia, Mozambique, Tanzania, Democratic Republic of Congo, Swaziland, Ghana, Namibia, Zimbabwe, Mauritius, Seychelles and Madagascar.

UNI SN MJ AW2039