Published
Apr 27, 2023
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Godrej Consumer Products plans to purchase Raymond Consumer Care's FMCG business

Published
Apr 27, 2023

Godrej Consumer Products Limited has signed a deal to purchase Raymond Consumer Care’s fast moving consumer care business for Rs 2,825 crore. The business includes brands such as male grooming brand Park Avenue and deodorant brand KS Spark among others and the deal could be completed by May 10.

Park Avenue retails men's grooming products - Park Avenue- Facebook


“This acquisition allows us to complement our business portfolio and growth strategy with under penetrated categories that offer a long runway of growth,” said Godrej Consumer Products Limited’s CEO and managing director Sudhir Sitapati on April 27, ET Bureau reported. “Raymond is a leading player in the deodorants and sexual wellness categories with brands like Park Avenue and KamaSutra. These categories have the potential to deliver double-digit multi-decade growth given the low per capita consumption in India compared to similar emerging markets.” 
 
Raymond had been exploring selling off its consumer care segment for around two years as it is not an integral part of the textile giant’s business. Godrej Consumer Products’ acquisition of the business will enable it to make its debut in the sexual wellness market as well as bolster its deodorant and male grooming offering, for which it currently has several brands.

In the 2022 financial year, Raymond’s Consumer Care business reported sales totalling Rs 522 crore. Raymond Consumer Care Limited integrated personal care, home care, and sexual wellness in the 2020 financial year.

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