 "Piramal Enterprises acquires baby care brand Little's")
Piramal Enterprises has acquired baby care brand Little's strengthening its consumer business portfolio. The company did not disclose the deal size.
Piramal group's consumer and OTC business has been expanding at 24 percent in last six years and the company aims to be in the top 3 OTC brands by 2020. The acquisition of Little's entire product range across six categories is a step in that direction, the company announced today.
Launched in India in 1980, Little's is present across a wide range of products including - baby feeding bottles, baby skin-care, baby grooming accessories, baby apparels and baby toys. The brand is currently available across 25,000 outlets in India and has been growing at a CAGR of 30% over the past few years.
According to an independent research firm - KEN research, the brand operates in the Rs 1,000 crore non-food baby-care category, which is growing at 13%.
Kedar Rajadnye, COO, Piramal Enterprises - Consumer Products Division said, " Over the last 6 years, the business has grown rapidly at 24% and is now ranked 7th amongst all OTC companies in India. We have built a portfolio of strong brands of which six are among the Top 100 OTC brands in India."