 "Fragrance & flavour maker S H Kelkar buys Rasiklal Hemani Agencies for Rs 28 cr")
S H Kelkar and Company Ltd, one of the leading fragrance & flavour companies in India, has acquired Rasiklal Hemani Agencies Pvt Ltd (RHAPL) - the New Delhi based trader of flavours, fragrances & essential Oils - for total consideration of Rs. 28.17 crore. In addition, S H Kelkar has paid Rs 5 crores to RHAPL by way of goodwill.
The move will help S H Kelkar to take direct control of customer relationships in Northern region and further consolidate its position in domestic market. Rasiklal Hemani Agencies is the indenting agents in Northern region for S H Kelkar’s fragrances for 50 years and generate and collect revenues over Rs 125 crores per annum from North India region (FY15 Rs 105 crores).
Meanwhile, S H Kelkar has announced that its subsidiary Keva Flavours Pvt Ltd on April 02, 2016 executed a business transfer agreement for acquiring Hi-Tech Technologies (HTT) -comprising of flavours division - for total consideration of Rs 25.11 crore. The Mumbai-based HTT, which manufactures and sales flavours, has a production facility in Daman with FSSA licence and has presence throughout India. HTT’s forecast revenue for FY 2016 is Rs 22 crore. Acquisition in-line with S H Kelkar’s plan to pursue strategic tuck-in acquisitions to grow the flavours business.
S H Kelkar’s flavour products are used as a raw material by producers of baked goods, dairy products, beverages and pharmaceutical products. Its fragrance products and ingredients are used as a raw material in personal wash, fabric care, skin and hair care, fine fragrances and household products. The company offers products under SHK, Cobra and Keva brands.
The move will help S H Kelkar to take direct control of customer relationships in Northern region and further consolidate its position in domestic market. Rasiklal Hemani Agencies is the indenting agents in Northern region for S H Kelkar’s fragrances for 50 years and generate and collect revenues over Rs 125 crores per annum from North India region (FY15 Rs 105 crores).
Meanwhile, S H Kelkar has announced that its subsidiary Keva Flavours Pvt Ltd on April 02, 2016 executed a business transfer agreement for acquiring Hi-Tech Technologies (HTT) -comprising of flavours division - for total consideration of Rs 25.11 crore. The Mumbai-based HTT, which manufactures and sales flavours, has a production facility in Daman with FSSA licence and has presence throughout India. HTT’s forecast revenue for FY 2016 is Rs 22 crore. Acquisition in-line with S H Kelkar’s plan to pursue strategic tuck-in acquisitions to grow the flavours business.
S H Kelkar’s flavour products are used as a raw material by producers of baked goods, dairy products, beverages and pharmaceutical products. Its fragrance products and ingredients are used as a raw material in personal wash, fabric care, skin and hair care, fine fragrances and household products. The company offers products under SHK, Cobra and Keva brands.