Indian fabric whitener and detergent maker Jyothy Laboratories Ltd is in advanced talks to buy Henkel AG’s 51 per cent stake in its Indian arm Henkel India for 9 billion rupees ($202.8 million), three sources with direct knowledge of the development told Reuters.
On March 16, Jyothy picked up a 14.9 per cent stake in Henkel India from Tamilnadu Petroproducts for 607.3 million rupees.
While Germany-based Henkel AG is looking to sell its Indian soap brand Margo separately in hopes of attracting a higher value, the Jyothy bid is for 51 per cent of the entire business, including Margo, the sources said.
HSBC represents Henkel in the transaction, while Indian boutique investment bank Mape Advisory Group represents Jyothy Laboratories.
Both Jyothy and Henkel India operate in the home care, fabric care, dish washing, personal care and household cleaning segments in India.
Henkel India is known for its hair styling brand Schwarzkopf Professional, detergent brands Henko Stain Champion and Mr White and home care brand Pril. It also offers a range of adhesives.
Jyothy Labs is known for its Ujala range of fabric care products.
Jyothy Labs could not be immediately reached for comment while Henkel India did not respond to email seeking comment.
Leave Your Comment
6 years ago
Consumer goods company Jyothy Laboratories Ltd is merging Henkel India Ltd with...
8 months ago
Jyothy Laboratories Ltd said German fast-moving consumer goods major Henkel AG...
6 years ago
Indian consumer products maker Jyothy Laboratories has raised Rs 5.5 billion (...