Emami has announced the acquisition of
The acquisition is funded through internal accruals and is subject to customary closing conditions.
The brand is popular for providing cooling and respite from prickly heat caused during summer season. It commands approximately 20% market share in the high growth and low penetrated category. Combined with Emami's Navratna Cool Talc, Emami will become leader in this niche category which would also help realise synergetic benefits and optimize costs.
Harsha V Agarwal, director, Emami, said, "We are very happy to announce the acquisition of Dermicool brand which offers great synergy with our existing businesses and is a perfect strategic fit. It will strengthen our presence to make us #1 in the prickly heat powder & cool talc category. With increasing global warming and soaring summer temperatures, such problem solution niche products are poised for strong growth in future."
Emami, as one of its core business strategies, has always been open to growth through inorganic route. Zandu, Kesh King and German brand Creme 21 are some of the brands or businesses acquired by the Company in the past few years.
Emami is one of the FMCG Companies in India in personal & healthcare space and is the flagship company of the diversified Emami Group of Companies. It is engaged in the business of manufacturing and marketing personal care, healthcare and beauty products. Emami's leading brands are Boroplus, Navratna, Zandu, Fair & Handsome and Kesh King among others.
The company reported 5% increase in consolidated net profit to Rs 220 crore in Q3 FY22 from Rs 209 crore in Q3 FY21. Consolidated revenue rose by 4% YoY to Rs 972 crore. Domestic business grew by 3% on a year-on-year basis.
The scrip shed 0.14% to end at Rs 449.95 on the BSE yesterday.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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