51% stake allows the group to expand its African presence
Indian FMCG company, Godrej Consumer Products Limited, has announced it has entered into an agreement for the rights to acquire a 51% stake in Pan-African Darling Group Holdings which operates in 14 countries in the region.
The Darling Group Holdings manufactures and distributes a full range of hair extension products which is one of the largest categories in Africa. Its respective brands, Darling and Amigos, are market leaders in the markets in which they are present.
Commenting on the acquisition, Godrej ceo, Adi Godrej, says: “The Darling Group enables us to take our presence in Africa to the next level. Our aspiration is to touch the lives of at least 100m consumers across Africa in the next five years through superior quality innovative products at affordable prices.
“Over 500m Indians use at least one Godrej product on a daily basis and we would like to build a similar kind of trust and relationship with the African consumer.”