Godrej, Marico eye Rs 1925 crore UK brand

Godrej Consumer Products Ltd and Marico Ltd have bid for a £250 million (Rs1,925 crore) British brand called Simple, which is one of the largest beauty product brands in the UK, according to sources. Simple was recently put on sale by its promoters, Duke Street Capital, a private equity group that acquired the brand in 2004 for £225 million.

The acquisition of British brand Yardley’s last month by Wipro Consumer Care and Lighting, a unit of Wipro Ltd, seems to have awakened a sleeping giant: the Indian consumer goods industry. Apart from hunting for brands in West Asia and Africa, large consumer goods firms are also scouting for acquisitions in Europe.

Further according to sources, Godrej Consumer is also in talks with a hair care company based in the Netherlands. Simple and the Dutch hair care firm are ideal targets for Godrej Consumer but the size of the deal may prove too much to handle. If rival bidders emerge, the firm may not be able to make a counter offer.