Another big deal is about to be completed in the Indian corporate world. Godrej Consumer Products (GCPL) has entered into an agreement to acquire the FMCG business of Raymond Consumer Care. With the completion of this deal, brands like Raymond Consumer’s Park Avenue and Kamasutra will go to Godrej.
According to CNBC-TV18, Godrej has made up its mind to buy this profitable business of Raymond. The deal will be completed for Rs 2,825 crore and it is believed that the cash transaction will be completed by May 10. Experts believe that after this deal, Godrej Consumer will enter the men’s grooming segment as well. Along with this, the category of fragrance and sexual wellness product will also be added to the profile of Godrej.
How much business of GCPL now
GCPL currently offers a wide range of consumer products. The company has a wide range of products in hair care, home care and personal care categories. Sudhir Sitapati, MD-CEO, GCPL, says that there is an opportunity for long-term double-digit growth in these categories, as the per capita consumption of these products in India is currently very low. We are making a strategy to take more advantage of the market by increasing the range of our business.
Raymond wants to get out of debt
Lifestyle business giant Raymond has decided to separate its consumer care business. After this the company will completely focus on B2C lifestyle business. Through this deal, the company’s intention is to become completely debt free and get itself listed afresh in the market. Post completion of the deal, Raymond will remain a pure lifestyle business with investments in engineering and denim business. Right now two companies Raymond and Raymond Lifestyle are listed in the market.
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