Dabur India on Tuesday acquired 100 per cent equity in U.S.-based Namaste Laboratories and its three subsidiaries — Hair Rejuvenation and Revitalization Nigeria, Healing Hair Laboratories International, and Urban Laboratories International — along with its South African arm for $100 million.
“This acquisition marks our entry into the fast growing $1.5-billion ethnic hair care products market in the U.S., Europe and Africa,” said Dabur India Chairman Anand Burman in a statement.
“The Namaste group has a complementary product mix that can be easily integrated with Dabur and will serve as a gateway to the U.S. market for our portfolio of consumer products. This transaction will enhance our profitability, increase stakeholder value and substantially add to Dabur's already strong presence in Africa, serving as one of the key pillars in strengthening our competitive position in the African continent,” he added. “With this acquisition, nearly 25 per cent of Dabur's consolidated revenue would be generated overseas,” said Dabur India Group Director P.D. Narang.