Godrej Looking At Acquisitions In Indonesia, Brazil In Personal Care Segment
Mumbai-based Godrej group is looking at acquisitions in Brazil and Indonesia, specifically in the areas of personal care and household care. On the other hand, the group is close to acquiring a household insecticide company in China through its joint venture Godrej Sara Lee, and is evaluating investment options in other developing markets in Africa and Asia. This was stated by the group chairman Adi Godrej.
The company says it has a “comfortable debt position” to make the acquisitions, and will also look at options like FCCBs or QIPs for raising funds. Godrej made three acquisitions in the last one year - in August, the group company Godrej Consumer acquired Rapidol, a hair colour company in South Africa. In October 2005, GCPL had acquired UK’s Keyline Brands, which owned personal care brands like Cuticura. Another group company, Godrej Beverage & Foods, had ten over Nutrine, a confectionery brand, for Rs 250 crore. [Via Business Standard]
