The brand, which offers skin care and body care products such as creams and lotions, shower gels, sun care range and men's range, has been acquired at less than 1.5 times of its sales.
With current sales at over eight million euros and a gross margin of over 50 per cent, the city-headquartered company expects to take this brand on an aggressive growth trajectory.
"The acquisition has a strong business fit as it operates in our focus markets and chosen categories. We plan to leverage our existing network of distribution and infrastructure to grow the brand.
"It has good potential for growth and we expect it to add value to our growth trajectory. With this acquisition, the company would be able to enjoy economies of scale due to additional business base," said company Director Harsha V. Agarwal.
The company said international acquisition is in line with its strategy for growth through inorganic route.
Over 80 per cent of the brand's business is contributed by MENA (the Middle East and North Africa) region and the balance by Germany and other focused countries. The products are manufactured by a third party in Germany under asset lean model.
"The acquisition is being funded from internal accruals," it added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.