FMCG player Marico on Monday said its Malaysian arm, Marico Malaysia Sdn Bhd, a wholly owned subsidiary of Marico Middle East FZE, has acquired hair-styling brand ‘Code 10’ from Colgate-Palmolive for an undisclosed amount.
This marks the company’s entry into the Malaysian hair styling market. “The deal, for an undisclosed consideration, envisages the acquisition of the brand Code 10 and related IPR by Marico Malaysia Sdn Bhd, a wholly owned subsidiary of Marico Middle East FZE,” the company said.
Code 10 range comprises hair creams and hair gels, and enjoys a double digit market share in the country.
