New Delhi: Dabur India has acquired US based Namaste Laboratories LLC and its three subsidiary companies for $100million in an all cash deal. The deal marks Dabur’s entry into the $1.5 billion ethnic hair care products market in the US, Europe and Africa. “This acquisition is in line with our strategy to build a global presence in the international FMCG market,” Dabur India Ltd. chairman Anand Burman said. The Namasté Group will be a gateway for Dabur to the US market and the acquisition will also add to Dabur’s strong presence in Africa, he added.
Dabur already has a oral and skin care business in Africa and with this entry into the continent, nearly 25% of its consolidated revenue is expected to be generated overseas, said Dabur India Ltd. Group Director PD Narang.
The transaction is expected to be completed by the end of the 2010 calendar year and Gary Gardner, founder and CEO, Namasté will continue to run the business as a wholly-owned subsidiary of Dermoviva Skin Essentials Inc – a subsidiary of Dabur India Ltd.
Founded in 1996 Chicago based Namasté Laboratories markets a portfolio of personal care products. The company is present in the US, Africa, Europe and the Caribbean region of North America with distribution platform across the US in mass, retail, beauty stores and salons.