Consumer goods giant, Godrej has acquired two iconic brands, Genteel and Swastik Shikakai, from Mumbai-based Priya Kothari family. Both Genteel, a liquid detergent brand, and Swastik Shikakai, a niche hair wash soap, have been operating in the Indian market for decades and jointly have an annual turnover of around Rs 30 crore.
The acquisition is being executed by Godrej group company Godrej Consumer Products (GCPL), which owns brands like Ezee liquid detergent, Cinthol soap and Godrej No.1 soap. The acquisition of Swastik Shikakai would provide GCPL with a presence in a niche market. The acquisition of Genteel, on the other hand, would provide GCPL nearly 90% share of the liquid detergent market.
Posted on: 8.12.2010
Source: www.economictimes.com
