Marico buys Kerala soap brand

Marico, the healthcare and cosmetic products company, has acquired a herbal bath soap brand, Manjal, from Oriental Extractions for an undisclosed sum. The brand has an annualised turnover of Rs 9 crore and has a presence mainly in Kerala.

Harsh Mariwala, chairman and managing director, said he expected Manjal to do well in the future by leveraging on Marico's wider distribution network and better brand positioning. The soap is a turmeric-based formulation, which is marketed under the S D Pharmacy banner.

"We will consolidate within the state before extending the distribution of the brand," Milind Sarwate, chief financial officer, said.

This is Marico's fourth brand acquisition in the soaps market after it acquired Camelia, Aromatic and Magnolia in Bangladesh last year. This marks the company's first acquisition in the soaps segment in India.

Marico is the largest player in the branded coconut oils market in the personal care segment and has stated in the past that it was looking at inorganic growth options both within and outside India.

Earlier this year, the company had acquired a clutch of soap brands in Bangladesh - Camelia, Magnolia and Aromatic-to signal its entry into the toilet soaps market in Bangladesh.

Marico's products and services in hair care, skin care and healthy foods during 2004-05 generated a turnover of about Rs 1,000 crore from 12 brands "� Parachute, Saffola, Sweekar, Hair & Care, Shanti, Mediker, Oil of Malabar, Mealmaker, Sil, Revive, Kaya and Sundari. Marico sells over 63 million packs to around 130 million people every month.