Financial Daily from THE HINDU group of publications
Tuesday, Oct 11, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 11, 2005 |
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Corporate
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Announcements Marketing - Brands Marico arm buys toilet soap brand in Bangladesh Our Bureau
Mumbai , Oct. 10 MARICO Ltd has informed the BSE that Marico Bangladesh Ltd (MBL), the Bangladesh-based wholly owned subsidiary, has acquired the toilet soap brand "Aromatic" from Aromatic Cosmetics Ltd, another Bangladeshi personal care product company, for an undisclosed amount. "The transaction included the signing of a suitable non-compete agreement between MBL and Aromatic Cosmetics as well as the purchase of some equipments and IPR," the company said in the statement to the bourse. Aromatic brand has an aggregate turnover of about 300 million taka in Bangladesh with a market share of around 5 per cent. "Aromatic's brand equity owes its strength to the quality of the soap and its positioning based on the `halal' concept, which has a strong recall among consumers," the company said. Shares of Marico moved up to Rs 295 from the previous close of Rs 287.20 on BSE.
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