GCPL completes acquisition of Strength of Nature

Godrej Consumer Products Ltd (GCPL) today said it has completed acquisition of US-based Strength of Nature LLC after approval from the Federal Trade Commission and US Department of Justice.
"The approval has been received and the company has completed the acquisition, through a wholly-owned subsidiary of the company," GCPL said in a BSE filing.
On April 1, 2016, GCPL had announced the acquisition of 100 per cent equity stake in Strength of Nature LLC (SON), USA, through a wholly-owned arm, which was subject to the approval of Federal Trade Commission and Department of Justice, USA.
SON is a leading company of hair care products for women of African descent. GCPL had stated that the acquisition would scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent.

Under its 3 by 3 strategy - a presence in emerging markets in Asia, Africa and Latin America through 3 core categories namely, hair care, home care and personal care - GCPL has been scaling up international presence.
SON's product portfolio includes Wet Hair Care, across relaxers, maintenance, styling and shampoos.
Shares of GCPL were trading 2.50 per cent down at Rs 1334 apiece on BSE.