Date:03/04/2008 URL: http://www.thehindubusinessline.com/2008/04/03/stories/2008040352590500.htm

Back GCPL completes acquisition of Kinky Group

Our Bureau

Mumbai, April 2 Godrej Consumer Products Ltd has completed the acquisition of 100 per cent stake in the Kinky Group (Proprietary) Ltd, South Africa, at a purchase price of South African Rand 265 million, according to a company release on the BSE Web site.

GCPL acquired Kinky with the view to enhance its presence in South Africa, where it had established a presence in 2006 by acquiring Rapidol, and expand its hair care product portfolio. “The acquisition gives us the opportunity to enter into a new line of business and diversify our hair product portfolio. Through Kinky we can further expand our presence in South Africa where we are already present with our acquisition of Rapidol (Pty) Ltd,” said Mr Adi Godrej, Chairman and Managing Director, GCPL.

The Kinky Group offers hair, hair braids, hair pieces, wigs and wefted pieces. Kinky also offers hair accessories like styling gels, hair sprays, oil free shampoo. The products are manufactured at plants located in South Africa at Johannesburg and Durban and are sold through cash’ n carry outlets and owned stores.