 "Godrej buys US-based hair care firm Strength of Nature")
Godrej Consumer Products Limited (GCPL) has entered into an agreement to acquire Strength of Nature LLC (SON), a leading company of hair care products for women of African descent. This acquisition is a further step to accelerate GCPL’s global 3 by 3 strategy and scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent.
“Over the past few years, we have been scaling up our international presence with acquisitions that fit well in our 3 by 3 strategy - a presence in emerging markets in Asia, Africa and Latin America through 3 core categories (hair care, home care and personal care). These strategic acquisitions have strongly aided our growth story. Through them, we have both extended our core businesses and implicitly broadened our presence to a wider canvas. Strength of Nature enables us to further strengthen our foothold in Africa,” explained Adi Godrej, chairman, Godrej Group.
SON, a USA based company with a significant presence in Africa and the Caribbean, is one of the fastest growing companies in the hair care category for women of African descent. SON has a compelling portfolio of heritage, category-leading brands in wet hair care, across relaxers, maintenance, styling and shampoos. This includes hair care brands – such as African Pride, TCB, Just for Me, Motions and Profectiv MegaGrowth – that have been serving women of African descent across 50 countries. For CY 2015, SON had registered annualised revenues of $ 95 million.
SON complements GCPL’s portfolio in Africa, building on its leadership position in dry hair care and hair colours in the region. The acquisition also enables GCPL to turbo-charge, creating a strong platform for wet hair care products in Africa and to forge a stronger presence in the $ 1.8 billion global wet hair care category.
“Over the last few years, we have been successfully establishing a leading presence in Sub Saharan Africa to serve the Dry Hair Care and hair colouring needs of women in the region. The Strength of Nature portfolio will enable us to address the complete hair care needs of women of African descent. We believe that many hair care needs of women are being under-served and we intend to bring the best quality and innovative products at affordable prices to meet the needs of our consumers,” added Gambhir.
Describing the future potential of this investment, Gambhir said, “This catapults us to become one of the largest players globally, serving the hair care needs of women of African descent. It will, over time, also provide a platform for us to further build and drive global leadership.”
“Over the past few years, we have been scaling up our international presence with acquisitions that fit well in our 3 by 3 strategy - a presence in emerging markets in Asia, Africa and Latin America through 3 core categories (hair care, home care and personal care). These strategic acquisitions have strongly aided our growth story. Through them, we have both extended our core businesses and implicitly broadened our presence to a wider canvas. Strength of Nature enables us to further strengthen our foothold in Africa,” explained Adi Godrej, chairman, Godrej Group.
SON, a USA based company with a significant presence in Africa and the Caribbean, is one of the fastest growing companies in the hair care category for women of African descent. SON has a compelling portfolio of heritage, category-leading brands in wet hair care, across relaxers, maintenance, styling and shampoos. This includes hair care brands – such as African Pride, TCB, Just for Me, Motions and Profectiv MegaGrowth – that have been serving women of African descent across 50 countries. For CY 2015, SON had registered annualised revenues of $ 95 million.
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Vivek Gambhir, managing director, GCPL, said, “Strength of Nature has a strong track record of serving consumers across Africa and the USA through its robust portfolio of heritage, category leading brands. We look forward to leveraging its strong brand equity for our business.”
SON complements GCPL’s portfolio in Africa, building on its leadership position in dry hair care and hair colours in the region. The acquisition also enables GCPL to turbo-charge, creating a strong platform for wet hair care products in Africa and to forge a stronger presence in the $ 1.8 billion global wet hair care category.
“Over the last few years, we have been successfully establishing a leading presence in Sub Saharan Africa to serve the Dry Hair Care and hair colouring needs of women in the region. The Strength of Nature portfolio will enable us to address the complete hair care needs of women of African descent. We believe that many hair care needs of women are being under-served and we intend to bring the best quality and innovative products at affordable prices to meet the needs of our consumers,” added Gambhir.
Describing the future potential of this investment, Gambhir said, “This catapults us to become one of the largest players globally, serving the hair care needs of women of African descent. It will, over time, also provide a platform for us to further build and drive global leadership.”