Bajaj Corp today acquired NOMARKS brand from Ozone Ayurvedics for an undisclosed sum.
NOMARKS is a cream in anti-blemish/mark segment and has market share of 12% in Rs 342 crore anti marks category which is growing at 27% per annum, the company said in a filing to stock exchanges. It is the second largest brand in this category, it said.
With this acquisition Bajaj Corp has now entered skin care category worth Rs 8,500 crore which grew by 12.1% in FY13, the company said.
Bajaj Corp is the part of Shishir Bajaj group which has other brands like Bajaj Almond Drops, Bajaj Brahmi Amla and Bajaj Amla Sheekakai.
“The acquisition of the NOMARKS brand by Bajaj Corp is a strategic move as it enhances our presence in personal care market and gives us an entry into skin care market” said Kushagra Nayan Bajaj, Chairman, Bajaj Corp.
NOMARKS would be continued to be manufactured by Ozone Ayurvedics for one year as a part of transition support agreement.
