New Delhi: Strengthening its portfolio in personal and household care segment, FMCG major Godrej Consumer Products on Friday said it has acquired ‘Swastik´ and ‘Genteel´ brands for an undisclosed amount.
In a filing to the Bombay Stock Exchange (BSE), Godrej Consumer Products Ltd (GCPL) said it has acquired 100% stake in Naturesse Consumer Care Products and Essence Consumer Care Products, owners of ‘Swastik´ and ‘Genteel´ respectively, from Muskan Projects.
“The acquisition further strengthens our commitment to India as being one of the key drivers of our revenues and profits. As the largest domestic Indian home and personal care company, we continue to cement our leadership position both organically and inorganically,” GCPL chairman Adi Godrej said.
‘Swastik´ has two soap brands—Shikakai and Neem, while ‘Genteel´ is the second largest liquid detergent brand after GCPL’s ‘Ezee´, the filing said.
“The acquisition extends our leadership in the specialty liquid detergent category and consolidates our number two position in the personal wash category in India,” GCPL managing director A Mahendran said.
“We look forward to capitalising on the synergies available by adding these heritage brands to our portfolio and helping take these brands to their next phase of growth,” he added.
The company share was trading 2.98% down at Rs 397.45 a piece in the morning on the BSE.