Fast-moving consumer goods company Marico Ltd on Wednesday announced the acquisition of a 60% equity stake in Apcos Naturals Pvt. Ltd, which sells skin and hair care products under the Just Herbs brand.
The move is in line with the company’s strategy to build scalable digital-first offerings and a premium portfolio of personal care brands. The equity stake will be acquired over two years, through primary infusion and secondary buyouts, the company said in a filing to the exchanges.
The company shall acquire 52.4% of the total paid-up share capital by 31 July 2021 and thus Apcos Naturals shall become its subsidiary. Marico will acquire the remaining 7.6% by 31 March 2023, according to the conditions set out in the shareholders agreement signed between the parties, the company had said in a filing to the stock exchanges.
Marico, which sells Parachute hair oil and Saffola cooking oil, intends to build a portfolio of at least three ₹100-crore plus digital brands within three years.