Godrej Consumer Products' (GCPL) subsidiary has entered into an agreement with Canon Chemicals, for the acquisition of a majority equity stake (75% stake) in its business in Kenya. This acquisition helps GCPL in further building its presence in the Sub Saharan Africa market.
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 annualized revenue of the business was KSh 1,146 million.
Godrej Consumer Products is the largest home-grown home and personal care company in India.
