Godrej Consumer Products Ltd (GCPL) has announced that it will acquire Raymond’s FMCG business. According to Reuters, GPCL will acquire the business for ₹2,825 crore.
According to PTI, Both the brands—Park Avenue and KamaSutra—are under Raymond Consumer Care, which is a step-down unit of the Singhania-family owned Raymond, known for its shirting and lifestyle business. Raymond was trying to sell this consumer care business for some years.
Earlier, it was in discussions with Good Glamm Group, a D2C beauty and personal care brand, added the PTI report.
Raymond has two fundamental businesses—lifestyle and real estate. Its revenue from FY22 was ₹4,260.66 crore.
Shares of Raymond were trading 4.94 per cent up at ₹1,691.40 apiece on the BSE.
GCPL is expanding its play in the consumer. Earlier, it had acquired Bblunt.
Shares of GCPL were trading at 2.77 per cent down at ₹949.10 per piece on the BSE.