GODREJ CONSUMER PRODUCTS LIMITED PRESS RELEASE
Canon Chemicals Limited, a Kenya based home and personal care company, manufactures and distributes products in the personal and home care categories
This acquisition helps GCPL in further building its presence in the Sub Saharan Africa market
GCPL's Africa business currently has annualised revenues of USD 200 million
This move is in line with GCPL's global 3 by 3 strategy, targeting strong regional assets in the emerging world
Commenting on the acquisition, Vivek Gambhir, Managing Director, GCPL, said: "We are delighted to add Canon Chemicals Limited to our home and personal care portfolio in Africa. Canon has a strong track record of serving consumers in Kenya for over 40 years and we look forward to leveraging its strong brand equity and distribution infrastructure, for our business. This acquisition reflects our continued commitment to scaling up our presence in Africa and providing African consumers with a wide range of superior quality products at affordable prices. We remain very excited by the tremendous potential of the African market and look forward to further building our business."
ABOUT CANON CHEMICALS LIMITEDCanon Chemicals Limited, based out of Kenya, manufactures and distributes products in the home and personal care categories. The over-40-year-old family run company is passionately committed to empowering and enriching the lives of African consumers through a portfolio of quality FMCG brands, available at affordable prices. Its major brand categories include petroleum jelly, air fresheners, detergents and candles. The company was ranked among the Top 100 Mid Sized Companies in Kenya in 2013 by KPMG.
Godrej Consumer Products Limited is the largest home-grown home and personal care company in India. We are constantly innovating to delight our consumers with more exciting, superior quality products at affordable prices.
We have bold ambitions and are becoming more agile and future ready. We rank number 1 in hair colour, household insecticides and liquid detergents and number 2 in soaps. In India, you grow up with our brands - Good knight, Cinthol, Godrej Expert, Godrej No. 1 - and we are now on our way to becoming an emerging markets FMCG leader.
In line with our 3X3 approach to international expansion, we are building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 categories (home care, personal wash, hair care). In 2010, we acquired the Indonesia based Megasari group, a leader in household insecticides, air fresheners and baby care. With the acquisition of Rapidol, Kinky and Frika in South Africa, and the Darling Group, a leading pan-Africa hair care company, we have a strong presence in the fast growing African hair care market. We acquired the Issue and Argencos groups in Argentina, leaders in hair colour, in 2010, and expanded our footprint to Chile through the acquisition of Cosmetica Nacional. The UK based Keyline Brands, which we acquired in 2005, plays in hair and personal care. We also have a business in the Middle East and a strong presence across SAARC countries.
www.godrejcp.com
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Vandana Scolt
Head - Communication Design, Godrej Consumer Products Limited
+91 9769747884
vandana.scolt@godrejcp.com
Pallavi Malhotra
Account Director, AdFactors PR
+91 9920559058
pallavi.malhotra@adfactorspr.com
Godrej Consumer Products Limited issued this content on 03 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 February 2016 05:58:03 UTC
Original Document: http://www.godrejcp.com/Resources/uploads/press_release/GCPL_PressRelease_CanonChemicalsLimited_03February2016.pdf
