The Hindu Business Line : Godrej acquires South African hair brand

Mumbai, Jan. 22 Godrej Consumer Products Ltd (GCPL) has signed an agreement to acquire the Kinky brand of hair business in South Africa for an undisclosed amount. With this brand, GCPL is entering the natural and artificial hair business in South Africa.

Speaking on the acquisition, Mr Adi Godrej, Chairman and Managing Director, GCPL, said, “This acquisition enables us expand into a new line of business and diversify our hair products portfolio and strengthen our product offerings in South Africa. This acquisition is our fourth and considerably enhances our scale and size as an Indian FMCG player in the international arena.”

Profitable biz

Kinky is a 36-year-old profitable business set up by a family of entrepreneurs in South Africa. Kinky’s products include dry hair, hair braids, human hair extensions, hair pieces, wigs and wefted pieces. Kinky also offers hair accessories such as styling gels, hair sprays, oil-free shampoo, bonding glue and bonding glue removal. Kinky products are manufactured at the company’s plants in Johannesburg and in Durban.

Raw materials and inputs for Kinky’s products are sourced both locally and from outside South Africa. The final products are sold through cash-and-carry outlets and 16 owned stores.

Added Mr Hoshi Press, Executive Director & President, GCPL, “With the acquisition of Kinky we would be seeking opportunities in other countries where there is a coloured population. These would be countries in South and North America and Brazil.”

Kinky is GCPL’s second acquisition in South Africa. In September 2006, GCPL acquired Rapidol Pty Ltd (South Africa), a marketer of permanent hair colourant.

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