Mumbai: Godrej Consumer Products Ltd announced on Saturday that it has agreed to buy Nigerian soap maker Tura in a bid to increase its presence in West Africa.
Godrej issued a statement on the acquisition but did not disclose the deal size and the revenues of the acquired business, but said Tura’s current management team will continue to lead the business.
Among other contenders for the soap maker were Wipro Ltd’s consumer care and lighting division, and Dabur India Ltd, media reports had said in the past.
“Tura helps us leapfrog in our endeavour to build a pan-African presence for our core categories such as personal wash and hair care. Tura is one of the strongest Nigerian beauty brands with a successful and passionate management team with a proven track record over the last two decades,” Godrej chairman Adi Godrej said.