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Godrej Sara Lee acquires arms in India, Sri Lanka

Godrej Sara Lee acquires arms in India, Sri Lanka
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First Published: Tue, Jul 03 2007. 12 31 AM IST
Updated: Tue, Jul 03 2007. 12 31 AM IST
Godrej Sara Lee Ltd (GSLL), a joint venture between the Godrej Group and US-based Sara Lee Corp., has acquired Sara Lee Household & Body Care (SLHBC), India, and its subsidiary in Sri Lanka with effect from 2 July. While Sara Lee Corp. has a 51% stake in GSLL, SLHBC was its independent unit, headquartered in Chennai. This unit marketed brands such as Kiwi shoe polish, Kiwi Drainex drain cleaner and hair care brand Brylcreem in India, Sri Lanka, Bangladesh and Nepal.
Commenting on the acquisition, Adi Godrej, chairman of the Godrej Group, said the “business and operations” of SLHBC would be transferred to GSLL. A. Mahendran, managing director, GSLL, added that Sara Lee Corp. “was keen on moving all its brands to one company to manage its portfolio in South Asia”.
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First Published: Tue, Jul 03 2007. 12 31 AM IST
More Topics: Godrej Sara Lee | Corporate News | MAs |