Marico eyes acquisitions up to Rs.1,000 crore

January 17th, 2012 - 6:58 pm ICT by IANS  

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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