Dabur India on Monday announced the acquisition of Turkey-based personal care products company Hobi Kozmetik Group for $69 million (about Rs. 310 crore).

Its overseas subsidiary Dabur International has acquired 100 per cent stake in three Hobi Group firms — Hobi Kozmetik, Zeki Plastik and Ra Pazarlama.

“The acquisition of Hobi Kozmetik, to be completed by the third quarter of 2010-11, is a step towards further consolidating and expanding our already substantial presence in the Middle East and North Africa region,” said Dabur Chairman Anand Burman.

Set up in 1974, Hobi Kozmetik is a leading manufacturer of personal care products in Turkey. The company is a market leader in the hair gel category with a 35 per cent share, and markets a wide range of hair care and skin care products under the ‘Hobby' and ‘New Era' brands.

Its products are sold across 35 countries, including the Middle East and North Africa.

More In: Companies | Business