Godrej Consumer Products through its subsidiary has increased its stake in Charm Industries from 51% to 100%. The entity will scale up wet hair care business in East Africa using the Strength of Nature brands. The consideration is payable in cash. Charm Industries is a manufacturing company incorporated in Kenya.
Earlier in August, the company had acquired two newly set up hair care firms in Zambia and Senegal to ramp up presence in African market. The company, through its subsidiary, had acquired 100% stake in Hair Credentials Zambia.
Godrej Consumer Products is the largest home-grown home and personal care company in India.
