Godrej Consumer Products to acquire a majority stake in Canon Chemical's business in Kenya

Through its subsidiary

Godrej Consumer Products announced that its subsidiary has entered into an agreement with Canon Chemicals, for the acquisition of a majority equity stake in its business in Kenya.

Canon Chemicals, a Kenya based company, manufactures and distributes products in the personal and home categories. Its major brand is Valon, a petroleum jelly.

In 2015, the annualised revenue of the business was KSh 1,146 million. This acquisition helps GCPL in further building its presence in the Sub Saharan Africa market.

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