New Delhi: As part of its plan to enhance its global presence, Godrej Group on Monday said it is looking for 2-3 acquisitions in the next 12-month, both in the overseas and domestic markets.
“We hope to make 2-3 acquisitions in the next 12 months,” Godrej Group chairman Adi Godrej told the news agency on the sidelines of the India Economic Summit organised by the World Economic Forum.
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Godrej said the company will be looking for acquisitions in emerging markets such as in the African region and India, particularly to enhance its existing categories like haircare and insecticides.
“As I said earlier, we will look at categories such as hair care, especially hair colours, house hold products, insecticides and personal wash,” he said.
To fund its acquisitions, the company had earlier announced that it will raise Rs3,000 crore. Godrej said the group could even raise more funds if required to fund future acquisitions.
“The fund has not been fully utilised that were raised earlier. It could even look at raising more money, if the need arises,” he said.
This year, the company had done a spree of acquisitions. After acquiring Nigeria’s personal care brand Tura, Godrej Consumer Products Ltd (GCPL) bought Indonesia’s household insecticide brand Megasari.
It later on acquired two hair care firms -- Issue and Argencos -- in Latin America. It had also bought out its erstwhile partner Sara Lee from their joint venture in India.
As part of plans to expand its global presence, GCPL has also it is exploring opportunities to introduce some of its Indian brands along with acquired labels in new markets.