Godrej Consumer Products to acquire 51% stake in Darling Group Holdings

Godrej Consumer Products (GCPL) has entered into an agreement for the rights to acquire 51% stake in Darling Group Holdings that operates in 14 countries across sub-Saharan Africa. The Darling Group manufactures and distributes the full range of hair extension products - which is among the largest hair care categories in Africa. Darling Group’s brands ‘Darling’ and ‘Amigos’ are market leaders in almost all of the countries that the Group operates in.

Darling Group Holdings, through its operating companies in 14 countries of Africa, is the market leader in hair extension products and a pioneer of the category in the region. The acquisition is a strong platform for Godrej home care and personal care products in sub-Saharan Africa.

Godrej Consumer Products’ net profit for the quarter ended March 31, 2011 surged by 75.30% at Rs 110.58 crore whereas the same was at Rs 63.12 crore for the quarter ended March 31, 2010. Its total Income zoomed by 130.03% at Rs 672.23 crore for the quarter under review whereas the same was at Rs 292.23 crore for the corresponding quarter of the previous year.