Skin care specialist Kaya Ltd acquires 75% stake in two UAE firms

Kaya Limited, the provider of specialty skin care solution, has acquired 75 percent stake in two skin and body care firms located in UAE. “Kaya Middle East, DMCC, a foreign subsidiary of Kaya Limited has entered into an agreement dated September 8, 2016 for acquiring 75 percent beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. However, the agreement will become effective on fulfilling of certain conditions precedent and obtaining the requisite statutory approvals, which will take approximately 4 months,” said Kaya Ltd in a BSE filing on September 9, 2016.

The above said entities carry out business of skincare, body & hair services and reported revenue of AED 11.17 million (about Rs 20 crore), as per the audited financial statements for the year ended December 31, 2015.

This acquisition will further strengthen Kaya Ltd’s network of clinics in the UAE region and add new set of customers to its existing base in the region. “With its special expertise in body contouring, it would help Kaya in leveraging across the region. With this acquisition, the total network of the clinics in the Middle East region would increase to 23,” added the company. 

Kaya Limited was incorporated in 2003 as part of wholly owned subsidiary of Marico Limited and was demerged from Marico Limited in September 2013. Kaya delivers holistic skincare solutions through its range of Kaya Skin Clinics (104 in India and 21 in the Middle East) and product retail format called Kaya Skin Bar (133 in India).

Kaya Skin Clinic, chain of specialised skincare clinics, offers customised solutions by expert dermatologists delivered through a synergistic combination of products and services backed by state-of-the-art safe skincare technologies. Kaya also has a range of more than 50 skincare & hair care products ranging from daily skin care to specific skin concerns like acne, pigmentation, ageing, etc.