New Delhi, Apr 6 (PTI) FMCG major Dabur India today said it has completed acquisition of two South Africa-based companies — D&A Cosmetics Proprietary Ltd and Atlanta Body & Health Products Proprietary Ltd — through its subsidiary.
The company had last year announced that it will acquire the two personal care products companies in South Africa for a total cash consideration of 50 million rands (about Rs 25 crore).
In a stock exchange filing, Dabur India said its wholly owned subsidiary Dermoviva Skin Essentials Inc has acquired 100 per cent share capital of the companies.
Accordingly, both the companies have become step down wholly owned subsidiary companies of Dabur India Ltd, it added.
This is not Dabur’s first acquisition in South Africa. In 2016, it had earlier acquired a South Africa-based Discaria Trading (PTY) Ltd.
In April last year, the company had announced completion of acquisition of personal, hair care and creams businesses of South Africa based-CTL group of companies valued at USD 1.5 million (Rs 10 crore).
As per the last year’s announcement, while D&A Cosmetics is acquired at a cost of 4,79,40,000 Rands (around Rs 24 crore), Atlanta Body and Health Products’ acquisition cost was 20,60,000 Rands (over Rs 1 crore).
Shares of Dabur India were trading 2.01 per cent up at Rs 343.35 on BSE.
This is published unedited from the PTI feed.