Godrej eyeing Rs 1,000 crore acquisitions globally

FMCG firm Godrej Consumer Products Ltd is looking at several acquisition opportunities globally and has earmarked a budget of Rs 1,000 crore for the purpose.

“Internationally, Godrej Consumer Products Ltd (GCPL) is looking at categories that are core to its business,” GCPL Spokesperson said.

The company is looking for a slew of acquisitions in different markets. In Africa, it is exploring the possibility for acquisition in the hair colour and hair care segment, While in India, GCPL is eyeing the hair care and personal care categories.

Asked about the possible size of acquisitions, GCPL said, “The company is open to deals which are valued up to Rs 1,000 crore.”

Godrej Consumer had earlier expressed interest in buying its US-based joint venture partner Sara Lee’s Asian consumer business.

Sara Lee, which has earlier sold its personal care and European detergent business to Unilever in September, is pursuing sale options for the remainder of its household care business.

Godrej Consumer - which produces and markets personal care products such as soaps, detergents, deodorants, talcum powder, hair color, shaving cream and diapers - has been making international acquisitions in the past few years.

In 2005, GCPL acquired UK-based personal care product maker Keyline Brands. In 2006, it had bought South African hair color company Rapidol and last year it acquired hair accessory maker Kinky.

Currently, GCPL has presence in the UK, South Africa and Middle East - markets which it entered through acquisition earlier.