Dabur acquires Namasté Group
$100m deal marks Dabur’s entry into the ethnic hair care market
Dabur India has purchased 100% equity in Namasté Laboratories LLC and its three subsidiaries, Hair Rejuvenation & Revitalization Nigeria Limited, Healing Hair Laboratories International LLC and Urban Laboratories International LLC together with its South African arm. The $100m all-cash deal marks Dabur’s first entry into the $1.5bn ethnic hair products market.
“This acquisition is in line with our strategy to build a global presence in the international FMCG market,” said Dabur’s chairman Dr Anand Burman. “The Namasté Group has a complementary product mix that can be easily integrated with Dabur and will also serve as a gateway to the US market for our portfolio of consumer products. This transaction will also enhance our profitability, increase stakeholder value and substantially add to Dabur’s already strong presence in Africa, serving as one of the key pillars in strengthening our competitive position in the African continent.”
According to Dabur, Gary Gardner, founder and ceo of Namasté will continue to run the business as a wholly-owned subsidiary of Dabur-owned Dermoviva Skin Essentials Inc. The transaction is expected to be completed by the end of 2010 subject to regulatory approvals in the US.
