Marico eyes acquisitions up to Rs.1,000 crore
January 17th, 2012 - 6:58 pm ICT by IANS ( Leave a comment )New Delhi, Jan 17 (IANS) Indian personal consumer goods company Marico is eyeing acquisitions worth up to Rs.1,000 crore ($200 million) across the globe to sustain a healthy growth rate.
“We have grown almost 26-27 percent and will try and maintain our high growth rates through both organic and inorganic routes. We will tap new opportunities available through acquisitions,” said Marico Chairman Harsh Mariwala Tuesday.
The company, which saw about 26 percent rise in turnover in second quarter of current fiscal at Rs.974 crore, would particularly eye for brands in the beauty and wellness segments.
“The range of the acquisition would be anywhere between Rs.200 crore and Rs 1,000 crore,” Mariwala told reporters on the sidelines of a FICCI event.
Mariwala is also the president of FICCI.
The company, which makes leading hair oil brand Parachute, had in 2011 had acquired 85 percent stake in Vietnamese firm International Consumer Products for an undisclosed amount.
It had also bought hair styling brand “Code 10″ from Colgate-Palmolive and the aesthetics business of Singapore-based Derma Rx Asia Pacific (Derma Rx) in 2010.
Mariwala said prices of finished goods would not fall unless there was a significant fall in inflation.
“It’s a good sign that inflation is going down (but) it may be too premature to come to the conclusion that end prices of finished products will start falling,” he said.
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- Marico acquires aesthetics biz of Singapore's Derma Rx - May 25, 2010
- New Colgate offering for instant relief from tooth-sensitivity - Jun 08, 2011
- Mariwala takes over as FICCI president - Mar 03, 2011
- Marico acquires health care brand Ingwe - Aug 13, 2010
- Venezuela freezes prices of 18 products - Nov 23, 2011
- Industry lauds decision to allow FDI in multi-brand retail - Nov 24, 2011
- Himalaya firm forays into herbal oral care segment - Dec 16, 2010
- Recall of retail FDI regressive, disappointing: India Inc (Roundup) - Dec 07, 2011
- India's factory output slows further in May - Jul 12, 2011
- Marico Q2 net profit rises 14.8 percent - Oct 26, 2010
- Titan to acquire Swiss brand for Rs.13.6 crore - Nov 16, 2011
- VVF forays into hair dye segment - Sep 22, 2011
- Belkin to increase Indian channel partners to 30,000 - Dec 06, 2011
- Made in India, faked in China -- $5-bn loss - Jan 01, 2012
Tags: acquisitions, aesthetics, asia pacific, colgate palmolive, consumer goods company, finished goods, finished products, hair oil, hair styling, inflation, New Delhi, new opportunities, parachute, percent stake, rs 1, rs 200, second quarter, segments, sidelines, turnover