New Delhi: FMCG major Dabur India on Thursday said that it has completed acquisition of women’s beauty care product maker Fem Care Pharma.
“With the completion of this transaction, Fem Care Pharma is now a subsidiary of Dabur India,” the company said in a statement.
Dabur India had earlier acquired 72.15% of Fem for Rs203.7 crore in an all-cash deal. After obtaining the regulatory approvals, Dabur acquired additional 20% stake for Rs54 crore through an open offer.
The company said the transaction was approved at a board meeting held in Mumbai on Thursday.
“With this acquisition, Dabur has consolidated its position as a leading Indian consumer goods company with presence across key categories like skin care, hair care, oral care, health care and foods,” Dabur India chief executive officer Sunil Duggal said.
He said the completion of this acquisition represents a “significant step” for the company and will help in accelerating growth in its core FMCG business.
“We are now focused on quickly seizing the attractive opportunities this transaction has created for us to increase top-line growth as well as achieving significant cost synergies,” Duggal said.