 "Emami acquires Australian personal care company Fravin")
Kolkata-based Emami Ltd has made its third acquisition in six months by buying a controlling stake (66.67%) in Fravin Pty Ltd, an Australian organic personal care products maker.
Emami did not diclose the size of the deal, but said that the acquisition would give it a foothold in the natural and organic personal care market, pegged globally at nearly Rs 47,000 crore.
"The Fravin acquisition is in sync with our strategy to grow aggressively through both organic and inorganic routes in India and overseas. This is a significant step for the organisation as the acquisition marks Emami’s entry into organic personal care products, where we were not present earlier," Emami's director, Harsh Agarwal said.
Fravin will be a part of Emami’s international business division, which contributes around 14% to the company's Rs 1,821-crore consolidated turnover.
The Fravin acquisition comes on the back of the Rasoi and She brand buys by Emami last year. Rasoi, a Kolkata-based edible oil brand, was acquired by group company Emami Biotech in September, while She, a sanitary napkin promoted by Mumbai-based Royal Hygiene Care, was acquired in June.
Emami has been stepping on the gas in the last few months in a bid to increase its turnover. Before the She brand acquisition in June, the company had launched the He range of deodorants using actor Hrithik Roshan as its brand ambassador, forayed into the men's facewash category with its fairness cream brand Fair & Handsome and stepped into light hair oils with Emami 7 Oils in One.
Analysts say that these current moves could add Rs 500 crore to Emami's turnover in two years, taking it beyond the Rs 2,300-crore mark.
While Emami officials have not indicated turnover targets, sources say the company could be eyeing Rs 5,000 crore in about five years to get into the big league.