GCPL's Africa business currently has annualised revenues of USD 200 million. The company has been acquiring brands, specially in the African continent, mostly targeting local firms in emerging markets. It acquired 51 percent stake in Darling South Africa in September 2011 and in Darling Mozambique in October 2011.
FMCG firm Godrej Consumer Products Ltd (GCPL) Monday said it has completed acquisition of South Africa's hair extensions firm Frika Hair (Pty) Ltd. "The company has completed the acquisition of 100 percent of the business of Frika Hair (Pty) Ltd in South Africa," GCPL said in a BSE filing.
In January, GCPL had announced that it entered into an agreement with Frika Hair (Pty) Ltd for the acquisition of 100 percent equity stake in its hair extensions business in South Africa.
GCPL's Africa business currently has annualised revenues of USD 200 million. The company has been acquiring brands, specially in the African continent, mostly targeting local firms in emerging markets. It acquired 51 percent stake in Darling South Africa in September 2011 and in Darling Mozambique in October 2011.
Last week, the company hiked its stake in hair extension brand Darling South Africa and Mozambique businesses to 90 percent.
Darling Group Holdings operates in 14 countries across Africa, selling hair extension products under brand names like 'Darling' and 'Amigos'. Besides having stake in Darling Group, GCPL had also acquired South Africa's Kinky Group in 2008 and hair colour brand Rapidol in September 2006.
Kinky offers a variety of products, including hair, hair-braids, hair pieces, wigs and wefted pieces. The Mumbai-based firm had also acquired Nigeria's personal care brand Tura for an undisclosed sum in 2010. Tura's product range includes soaps, moisturising lotions and skin-toning creams.
Godrej Consumer stock price
On March 02, 2015, Godrej Consumer Products closed at Rs 1125.10, down Rs 5.9, or 0.52 percent. The 52-week high of the share was Rs 1195.00 and the 52-week low was Rs 701.00.
The company's trailing 12-month (TTM) EPS was at Rs 18.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 60.46. The latest book value of the company is Rs 88.84 per share. At current value, the price-to-book value of the company is 12.66.
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