Dabur India acquired Hobi Kozmetik Group, a leading personal care products company in Turkey, for Rs 324 crore ($69 million). Dabur’s overseas subsidiary, Dabur International, acquired 100% stake in three Hobi group firms — Hobi Kozmetik, Zeki Plastik and Ra Pazarlama.
This acquisition would help the company in consolidating its presence in the Middle East and North Africa region. The Hobi acquisition offers it an entry into Turkey, and the company’s brands complement Dabur’s portfolio. The transaction is expected to be completed by third quarter of 2010-11.
Established in 1974, Hobi Kozmetik is Turkish market leader in hair gels with a 35% share, and markets haircare and skincare products under the Hobby and New Era brand names. Its products are sold across 35 countries, including the Middle East and North Africa.
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