Kolkata-based Emami Ltd has bought a controlling stake (66.67 percent) in an Australian organic personal care products maker, Fravin Pty Ltd, for an undisclosed amount. The acquisition is expected to give Emami a foothold in the natural and organic personal care market, pegged globally at nearly Rs 47,000 crore.
"The Fravin acquisition is in sync with our strategy to grow aggressively through both organic and inorganic routes in India and overseas. This is a significant step for the organisation as the acquisition marks Emami’s entry into organic personal care products, where we were not present earlier,” said Harsh Agarwal, director, Emami.
Fravin will be a part of Emami’s international business division, which contributes around 14% to the company's Rs 1,821-crore consolidated turnover.
"The Fravin acquisition is in sync with our strategy to grow aggressively through both organic and inorganic routes in India and overseas. This is a significant step for the organisation as the acquisition marks Emami’s entry into organic personal care products, where we were not present earlier,” said Harsh Agarwal, director, Emami.
Fravin will be a part of Emami’s international business division, which contributes around 14% to the company's Rs 1,821-crore consolidated turnover.