Marico Ltd.

BSE: 531642 | NSE: MARICO
Mid Cap | Edible Oil
738.45
0.80 (0.11%)
< Home < Back

Marico buys South Africa's healthcare brand Ingwe

Date: 16-08-2010

Marico has acquired the OTC Healthcare brand, Ingwe, from Guideline Trading CC of South Africa, at an estimated Rs 10 crore through its subsidiary, Marico South Africa (MSA). This is the FMCG major's seventh acquisition and its second one in South Africa.

 

Ingwe is the top three brands in the OTC immuno booster category and will be catering to the South African community. We intend taking this brand across the African countries. The Rs 15-crore Ingwe's range comprises immuno boosters and a medi pak range.

 

Marico has acquired the brand at less than one time its sales. The acquisition will be accretive from day one as it is a profitable company. This acquisition is strategic fit as it complements the existing portfolio that it has in South Africa. Marico's business in South Africa recorded a growth of about 34 per cent this year despite the economic slowdown. South African business contributes Rs 63 crore, with a10 per cent share in Marico's Rs 600 crore international business.crackcrack