Mumbai, Oct 31
GODREJ Consumer Products Ltd (GCPL) has announced that it has acquired 100 per cent stake in UK-based Keyline Brands Ltd.
The company did not disclose the value of the deal.
Keyline is an FMCG company engaged in the manufacture, marketing, sales and distribution of cosmetics and toiletries with a strong portfolio of brands and a well-developed customer base in numerous supermarket chains and discount stores.
"This acquisition represents the commencement of our building a global presence in the international FMCG market. Keyline Brands is a consistent profit making company with a portfolio of many great brands that have tremendous potential to grow in Europe, West Asia and the Asian region," the company said in a statement to BSE quoting Mr Adi Godrej, Chairman and Managing Director, GCPL.
"The acquisition will add to GCPL's consolidated topline as well as bottomline. It will enable GCPL to enhance its various skills in marketing and management of modern trade channels that will be extremely relevant in a rapidly changing Indian retail environment.
"Acquisitions, both in India and overseas, of profitable businesses and strong brands that have a synergy with our core competencies will continue to be one of our key strategies in strengthening our competitive position, driving profitability and enhancing stakeholder value," the company said.