Emami has entered into an agreement with Sanjeev Juneja to acquire his hair & scalp care business under the ‘Kesh King’ and allied brands. The transaction envisages transfer of the business as a going concern on a slump sale basis and will include brand portfolio of ayurvedic medicinal oil, herbal shampoo & conditioner and ayurvedic capsules along with its respective formulations and all related assets, rights and liabilities including working capital for a total consideration of Rs 1651 crore.
The acquisition process is expected to be completed in a month’s time. Promoters / Promoter group / Group Companies do not have any interest in the above acquisition and the acquisition does not fall in related party transaction.
Emami manufactures products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products. Emami’s Boroplus portfolio is worth Rs 400 crore, comprising of three brands -- BoroPlus Antiseptic Cream, Boroplus Advanced Moisturizing Lotion and BoroPlus Prickly Heat Powder.
