MUMBAI, Jan 1: Godrej Consumer Products Ltd (GCPL) has acquired Soft & Gentle deodorant brand from Colgate-Palmolive in Britain.
The acquisition was carried out by the company’s subsidiary KeyLine Brands.
The acquisition of Soft & Gentle by Keyline Brands will add profitable scale to their UK business. Over the last few years, Keyline Brands has delivered good performance and grown in double digits in a very tough market environment that is witnessing little to no growth, Adi Godrej, Chairman, GCPL, said in a statement.
With this latest acquisition, the company is expanding its global footprint.
Over the last few months, GCPL has acquired stakes in companies
manufacturing hair colour, hair care and house hold products in Chile, Africa and Indonesia.
The company’s consolidated net profit rose by 25 per cent to Rs
159 crore in second quarter of the current fiscal.
With sales of 21 million pounds in 2011, Soft & Gentle is Britain’s fourth largest female deodorant brand by market share and retains strong brand equity with retailers and consumers, the statement added.
(UNI)
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