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Godrej Consumer Acquires Raymond FMCG Business: An important news related to the FMCG sector is coming. Godrej Consumer Products, one of the largest companies making consumer based products, is going to acquire Raymond’s Consumer Care (RCCL) business. This will help Godrej to increase its market share.
Godrej Consumer Products announced the deal on Thursday. He told that this deal has been fixed for Rs 2,825 crore. The deal is expected to close by May 10.
Significantly, Raymond Consumer Care has a major share in deodorants and intimate hygiene category. Giving information on this matter, Raymond Consumer Care has said that Godrej is going to acquire Kamasutra, Park Avenue, KS and Premium trademarks along with its consumer based business. Raymond Consumer Care is a subsidiary of Raymond Limited.
Godrej gave this statement on the acquisition
Regarding the deal, Godrej CEO Sudhir Sitapati said that after this acquisition, the company’s consumer-based sector will get further strength. With this, the company will strengthen its presence in that category as well, where earlier its share was very less. With this, the growth of the company in the market will accelerate in the future.
Entry will be available in many new categories
CEO Sudhir Sitapati further said that Godrej will now be helped to improve its presence in the categories of deodorants and sexual wellness. Raymond has already been a big player in these categories. Along with this, he said that in the coming times, more work will be done to increase this category and its demand and growth will be taken to double digit. For this, the company will continue to work continuously to increase the popularity among the customers. Godrej used to sell many personal care products earlier, but after this acquisition, it will be able to do well in the new category as well.
The importance of this deal can be gauged from the fact that Godrej is going to acquire 47 percent of the total business of Raymond Limited.
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