Godrej Consumer Products today said it had completed the acquisition of a 51% stake in African hair care company Darling Group Holdings.
The company made the announcement in a filing to the Bombay Stock Exchange (BSE).
Darling Group Holdings operates in 14 countries across Africa, selling hair extension products under brand names like 'Darling' and 'Amigos'.
In June this year, Godrej Consumer Products Ltd (GCPL) had announced the acquisition of a 51% stake in Darling Group Holdings for an undisclosed amount.
The company had said the acquisition would help scale up its operations in the region and would strengthen its position in the hair care market.
"The Darling Group enables us to take our presence in Africa to the next level... We believe the strong share positions that the group brands enjoy will further accelerate our trajectory of sustainable profitable growth in the region," GCPL Chairman Adi Godrej had said.
Shares of GCPL were trading at Rs 425 on the BSE, up 0.13% from their previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app