Homegrown FMCG major Emami Friday announced acquisition of German personal care brand Creme 21, for an undisclosed amount.
Creme 21, which has major business in Middle East and other focus markets, has been acquired at less than 1.5 times of its sales, said Emami in a statement.
"This international acquisition is in line with the company's strategy for growth through the inorganic route," said the Kolkata-headquartered firm.
The acquisition is being funded from internal accruals, it added.
Emami Director Harsha V Agarwal said: "We plan to leverage our existing network of distribution and infrastructure to grow the brand. Creme 21 is an iconic German brand that has a high brand recall. The brand has good potential for growth and we expect it to add value to our growth trajectory."
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