German Personal Care brand Creme 21 Acquired for Euro 11-12 million
A leading German personal care brand, Creme 21 was acquired by an Indian FMCG Emami for 11-12 million euro.
This is the first international acquisition of this size in this segment by Indian FMCG Emami.
We had acquired a small company earlier. The brand has been acquired at around 11-12 million euro of little less than 1.5 times of sales of 8 million euro," Emami director Harsha V Agarwal said. "This international acquisition will add to about 15 per cent of total overseas revenues and is in line with the companys strategy for growth through inorganic route," he said.
Creme 21 will help to expand Emami's international business which is primarily dependent on personal care. In the personal care segment alone Emami total business accounts for 70 percent in India.
Creme 21 has a...