Marico’s wholly owned step-down subsidiary - Marico South Africa (MSA) has acquired the business including related intellectual property rights of Isoplus, a leading hair styling brand in South Africa from JM Products SA (JM Products) and Mary L Harris, its owner for a consideration of 75 million South African Rand (Rs 36 crore) at a revenue multiple of 1.2.
This strategic buyout will enable MSA to become a full spectrum ethnic hair care company in South Africa. The acquisition comprises purchase of manufacturing facilities, working capital and all intellectual property rights owned by JM Products and Mary L Harris. The acquisition is expected to be fully consummated by mid-Q3 FY18.
Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.
Company Name | CMP |
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Nestle | 2599.30 |
Britannia Inds | 6200.00 |
Varun Beverages | 578.95 |
Marico | 687.75 |
Hatsun Agro Product | 1151.50 |
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