FMCG good maker Emami Ltd revealed that it has now acquired the German Personal Care brand Crème 21 GmBh as a part of its inorganic growth strategy.
The deal will boost the company international business, especially in Western Asia, Russia, and Southern Asia, the company revealed.
Emami also revealed that the value of the deal is less than two times the annual sales of the Crème 21. The German Brand had annual revenue of more than 8 Million Euro. This means that the deal value is more than 12 Million Euro or about Rs 97 crore. One of the Emami Executive, who did not wish to be named, revealed that the value is around this level.
The Indian company is funding the acquisition from internal accruals.
“The acquisition of Creme 21 has a strong business fit as it operates in Emami’s focus markets and chosen categories,” said Harsha V Agarwal, director at Emami. “With this acquisition, the company would be able to enjoy economies of scale due to the additional business base.”
Crème 21 provides the body care and skin products which includes the shower gels, lotions, and creams. Its products are manufactured by the third part in Germany.
Crème 212 was founded as a personal care brand in 1970 for the people over 21 years of age.