Bangladesh brand buyout adds aroma to Marico

DALAL STREET SPIKES

Marico closed at Rs 295, up about 3 per cent in today's trade after posting an intraday high of about 4.5 per cent. The scrip rode up after the company had announced the acquisition of a toilet soap brand in Bangladesh.

The company's Bangladesh-based wholly owned subsidiary, Marico Bangladesh (MBL) acquired the toilet soap brand, Aromatic, from Aromatic Cosmetics Ltd (ACL) for an undisclosed consideration.

The soap brand, Aromatic, which has about 5 per cent of market share, in Bangladesh had an aggregate turnover of about Taka 300 million.

The company had acquired another soap brand, Camelia, early this year to signal its entry into the toilet soaps market in Bangladesh. Marico has a strong distribution network in Bangladesh.