New Delhi: Dabur India today said its wholly-owned subsidiary Dabur South Africa will acquire two personal care products company in that country for a total cash consideration of 50 million rands (about Rs 25 crore).
The companies are D&A Cosmetics Propietary Ltd and Atlanta Body and Health Products Propriety Ltd. Dabur South Africa (Pty) Ltd has entered into a share purchase agreement to acquire D&A Cosmetics Propietary Ltd and Atlanta Body and Health Products Propriety Ltd on or before June 1, 2018, Dabur India said in a BSE filing.
While D&A Cosmetics would be acquired at a cost of 4,79,40,000 Rands (around Rs 24 crore), Atlanta Body and Health Products will be acquired for 20,60,000 Rands (over Rs 1 crore).
Both the acquiree companies are engaged in business of personal care and hair care products. Last year, the homegrown FMCG major had acquired a South Africa-based Discaria Trading (PTY) Ltd for an undisclosed amount.
In April this 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). Shares of Dabur India closed at Rs 276.15, up 0.82 per cent on BSE.
