Godrej acquires US-based Strength of Nature (SON)
Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods arm of the $4 billion-Godrej Group, has acquired US based company Strength of Nature.
Nature a US-based company that makes hair care products targeted at women of African descent. The acquisition amount has not been disclosed.
Adi Godrej, chairman of the Godrej Group, said on Saturday that with this acquisition, GCPL would be the leading company that makes hair care products for women of African descent. According to GCPL’s presentation, the global market for hair care targeted at women of African descent is valued at $4.5 billion - $2.3 billion in Africa, $1.6 billion in the US and the remaining in other regions of the world.
Over the last few years GCPL has followed a growth strategy, which it calls three-by-...