Godrej Consumer Products Limited (GCPL) has acquired a 51 per cent stake in Darling Group Holdings, a pan African hair-care company. The Darling Group makes hair extension products under the brands 'Darling' and 'Amigos' in Africa.
Speaking to NDTV, Adi Godrej, Chairman of the Godrej Group, said, "The Darling Group is one of the biggest hair care business in Africa. A binding MoU has been signed and we will implement the deal in stages.”
Mr Godrej did not disclose the deal value but said it was a very large deal and will give the company access to many African countries including the countries GCPL is present in like South Africa and Nigeria.
Adi Godrej added that the acquisition is expected to be EPS accretive from the first year after buyout.
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