More acquisitions in Africa: Godrej

Godrej Consumer Products today said it will continue with its expansion spree in Africa,

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which include more acquisitions and possibly setting up of its own plant in the region within the next fiscal year.

The company, which yesterday announced the acquisition of Nigeria's personal care brand Tura, a leading personal care brand in Africa, is eyeing to expand its presence particularly in the Central and Eastern parts of the continent.

"We already have a strong presence in South Africa with our earlier acquisitions. Now our aim is to enter Eastern and Central Africa either organically or through acquisitions," Godrej Consumer Products (GCPL) Managing Director Dalip Sehgal told PTI.

The company will continue to look at buying out firms or brands in the personal care space. "Our aim is to build four hubs in the continent — South, East, West and Central. The African business has been growing over 40 per cent. We are currently looking at setting up our business, besides continuing to look for acquisitions," he said.

GCPL's global business accounts for about a quarter of its overall revenues. In the quarter ended December, its total revenues stood at Rs 576 crore. Its South African arm Rapidol had reported sales revenue of Rs 16.6 crore, while Kinky Group posted Rs 18.5 crore for the quarter ended December 2009.

Asked if the company is also considering setting up a plant in the region, Sehgal said, "it could be".

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