Raymond acquires KamaSutra brand from JV partner Ansell

Textile major Raymond today announced acquisition of 50 per cent stake of its Australian JV partner Ansell in JK Ansell, the manufacturer of condoms and deodorants under the KamaSutra brand, for Rs 19.30 crore.
Following the deal, JK Ansell, which is into sexual wellness and personal care business, will become a wholly owned subsidiary of JK Investo Trade (JKIT), a Raymond group firm, the company said in a statement.
JK Ansell, on its part, will sell its B2B surgical gloves business to Singapore-based Pacific Dunlop Holdings, an Ansell group company.
"Pursuant to the said agreement and other framework agreement, JKIT shall buy the stake of Pacific Dunlop in sexual wellness business for approximately Rs 19.30 crore and sell its stake in gloves business to Pacific Dunlop for approximately Rs 11.30 crore," the company said.

Raymond CMD Gautam Hari Singhania said: "This acquisition of Ansell's 50 per cent stake gives us the full ownership of brand KamaSutra that strengthens our FMCG portfolio."
KamaSutra is a 25-year old brand, which is also present in the deodorant category as KS Deos.

"This acquisition will pave the way for Raymond to further scale up the FMCG business and unlock the immense potential of brand KamaSutra globally," the company said.
The Raymond group forayed into the FMCG business in 1964 through its subsidiary JK Helene Curtis and has various products in the male grooming space such as Park Avenue range of fragrances, soaps, shaving foam and gel, among others.

"With this acquisition, the combined FMCG business is expected to be Rs 800 crore of consumer value in 2017-18. This gives us the scale and opportunity to rejuvenate our FMCG brands and strengthen sales and distribution network," Raymond President - FMCG Business - Giriraj Bagri said.
Raymond FMCG business has a retail presence through 2.5 lakh retail outlets, including 90,000 pharmacies in the country, and exports to South East Asia, the Middle-East and Africa.