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Major Kolkata-based FMCG firm, Emami Ltd. has acquired ayurvedic hair and scalp care brand “Kesh King” for Rs 1,651 crore ($259.3 million) on June 2nd, 2015.
With this deal Emami marks entry into the ayurvedic hair and scalp care segment which will include Kesh King’s portfolio of hair oil, shampoo and ayurvedic capsules, along with its respective formulations and all related assets, rights and liabilities, including working capital.
Kesh King is owned by Sanjeev Juneja, of Himachal Pradesh – based SBS Biotech Ltd. and has recorded a turnover of around Rs300 crore in the year 2014-15 . It claims to have 5.4 lac outlets all over India.
Emami Ltd., founded in 1974 is engaged in personal and healthcare sector and has about 250 diverse products and includes brands like Fair & Handsome, Zandu, Fast Relief, Boroplus, Navratna. The firm operates in 63 countries including Africa, Europe, and SAARC countries.
According to Mr N H Bhansali, CEO – Finance, Strategy & Business Development, Emami Limited, the acquisition will be funded by a judicious mix of surplus funds and short- and long-term debt. And the process is expected to be completed in a month’s time.
Khaitan & Co was the legal advisor for Emami on the transaction.
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