Reliance to acquire dozens of brands in $6.5 billion consumer goods play-sources

India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, … Read more

ED attaches Amway India’s assets worth ₹757.77 crore

The Enforcement Directorate has attached assets worth ₹757.77 crore of Amway India Enterprises Private Limited, which has been accused of running a multi–level marketing scam. The attached properties include a land parcel and factory building of Amway in Tamil Nadu’s Dindigul district, plant and machineries, vehicles, bank accounts and fixed deposits. The 36 bank accounts … Read more

Emami acquires Dermicool. Becomes No. 1 in the category.

The company has acquired the prickly heat talc brand from Reckitt. Key points to note – Consideration is Rs 432 crore to be funded entirely from the internal accruals. Emami had cash equivalents of Rs 406 crore as on September 30, 2021 and generated operating cash of Rs 922 crore in FY 21. Funding of … Read more

Nykaa’s promoters overrule institutional vote. Get special rights.

Nykaa’s promoters have successfully been able to change the Article of Association (AoA) to give themselves special powers. What are the powers? As per the previous AoA, the promoter group had the right to nominate up to 50% of the directors on the board if they held in excess of 25% of the company’s paid-up … Read more

Godrej sells Bblunt to Mamaearth. It’s a strong brand.

Godrej Consumer Products (GCPL) is selling Bblunt’s consumer products and saloon business to Mamaearth. Key points to note: Acquisition is by Mamaearth’s parent Company Honasa consumer. Bblunt’s products business will be completely owned and managed by Honasa Bblunt’s saloon business will continue to operate as an independent entity GCPL held 30% of Bblunt and balance … Read more

Emami launches German skincare brand Creme 21 in India

Originally founded by Henkel in the 1970s, Creme 21 was acquired by a German businesswoman Antje J Willems Stickel in 2003, and then by Emami in January 2019. Key points to note – Emami had acquired Creme 21 for about Rs 100 crore. This is peanuts compared with what newer beauty brands are getting valued … Read more