The Ajay Piramal-controlled flagship firm Piramal Enterprises Ltd on Friday announced acquiring baby-care brand Little's for an unspecified amount.
"Acquisition of Little's product range across six categories is a step in the right direction as we aim to be in top three OTC (over-the-counter) brands by 2020," the company's consumer products division said in a statement here.
Little's is present across a range of products spanning feeding bottles, skin care, grooming accessories, apparels and toys for babies in 0-4 years group.
"We have built a portfolio of strong brands of which six are among the top 100 OTC brands in the country," Piramal chief operating officer Kedar Rajadnye said.
According to KEN research firm, Little's brand operates in the Rs.1,000-crore non-food baby-care category, which is growing at 13 percent annually.
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"Our brands like Saridon, i-Pill, Lacto Calamine, Polycrol, Tetmosol and Caladryl have a strong consumer franchise and are either number one or number two in their respective categories," Rajadnye said.
Little's brand is available in 25,000 outlets, including chemists, cosmetics, kids stores, modern trade and e-commerce formats across the country, growing at a cumulative average growth rate (CAGR) of 30 percent over the past few years.
"In line with our growth strategy, as we aim to be a top 3 player in the OTC market by 2020, we believe Little's will help us achieve the goal," Rajadnye noted.
As the company is catering to the 5-10 age group through its Jungle Magic brand, Little's acquisition will help it offer for babies in the 0-4 age group and partner with mothers to provide well-being solutions for their children.
"We have grown over the years to become a promising brand in the baby-care segment. Our acquisition by Piramal will take our brand to new heights," Little's managing director Darshan Deora said in the statement.
