Godrej Consumer Products Ltd (GCPL) announced the completion of a merger of Godrej Household Products Ltd (GHPL) with GCPL.
The merger consolidates GCPL's position in the FMCG space, making it the largest home and personal care portfolio in India and the second largest household insecticide in Asia, said the company in a release to the Bombay Stock Exchange.
"The merger will provide us with significant strategic and operational benefits. Both GCPL and GHPL have delivered outstanding performance and we believe that the merger provides with a scale platform to accelerate our growth and profit trajectory. We are excited about the potential of offering even more world class, innovative products to delight our consumers in emerging markets. At the same time, we believe that the new GCPL will offer unparalleled growth and development opportunities to our team members, who have worked tirelessly to deliver value to all our stake holders.” said Adi Godrej, chairman, GCPL.