GCPL to expand operations in Africa, keen on more buy out

PTI Updated - March 12, 2018 at 06:35 PM.

Godrej Consumer Products Ltd (GCPL) is expanding its manufacturing footprints in Africa and is gearing up to set up factories in Tanzania and Uganda.

The company, which has made four acquisitions in Africa, also said it is currently having “some discussions” to take over some local firms in the continent.

“We are now planning to expand our manufacturing in some other countries. First expansion will be into Tanzania and Uganda,” GCPL Chairman Adi Godrej told PTI.

At present, Godrej Consumer products has manufacturing facilities in four countries in Africa — South Africa, Mozambique, Kenya and Nigeria.

During the first quarter ended June 30, GCPL’s revenues from African operations stood at Rs 214 crore.

When asked if GCPL was looking at other opportunities in Africa, Godrej said: “We are looking at it. Our growth in Africa is through acquisition of local companies... Some discussions are going on.”

GCPL had completed acquisition of 51 per cent stake in African hair care company Darling Group Holdings in September 2011.

Talking of haircare business segment, Godrej said: “Our businesses are mainly in hair care. And we are leaders in hair colour in 14 countries in Africa that is manufactured in South Africa and exported from South Africa.”

The company is betting big on the African market to drive its international sales. Sales from African operations account for 25 per cent of total international sales.

Published on October 2, 2013 11:56