Godrej Consumer Products’ (GCPL) wholly-owned subsidiary -- Godrej East Africa Holdings has acquired balance 25 percent stake in Kenya-based Canon Chemicals for an undisclosed sum. Through this transaction, Canon Chemicals would now be a wholly-owned subsidiary of the company.
The Godrej Group firm had earlier acquired 75 per cent stake in Canon Chemicals Limited, Kenya, in 2016. Canon Chemicals is a Kenya-based manufacturer of consumer products. GCPL is expanding its presence in the African markets and has done substantial acquisitions also in the past to strengthen its presence in the subcontinent.
Godrej Consumer Products is the largest home-grown home and personal care company in India.
