Emami group’s flagship FMCG firm Emami Ltd has acquired 66.67 per cent stake in Australia-based Fravin Pty Ltd, as per a stock market disclosure. The deal amount remained undisclosed.
This acquisition of Fravin, executed through its UAE-based subsidiary Emami Overseas FZE, will add to Emami's international business division, which contributes around 14 per cent to the total FMCG business currently.
Post this acquisition, Fravin and its three subsidiary companies, have become subsidiaries of Emami Ltd.
Fravin manufactures natural and organic personal care products in Australia. Promoted by Peter Francis, Gravin Group manufactures hair care and skin care products that are certified organic by various certification bodies in Australia and the US. The firm has R&D and manufacturing plant at Adelaide, the capital city of South Australia.
Established in 1974, Emami is one of the leading and fastest growing personal and healthcare businesses in the country. The firm has more than 260 products based on ayurvedic formulations and operates in over 63 countries including GCC, Europe, Africa, CIS countries and the SAARC.
Its brand portfolio includes BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Mentho Plus Balm and Fast Relief.
This is the first overseas acquisition by the firm in four years. In 2011 it had acquired Egypt's Pharma Derm.
Overall this its second acquisition in the last seven months. Last June, the firm acquired sanitary napkin brand She Comfort from Mumbai-based Royal Hygiene Care Pvt Ltd for an undisclosed amount.
(Edited by Joby Puthuparampil Johnson)
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