Marico, promoter of Parachute and Saffola brands, is looking at African and Asian countries

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for acquisition opportunities, according to its chairman and MD Harsh C Mariwala. Its primary focus areas for buyouts would be in the beauty and wellness segments.

“We’re a growth oriented company. We believe that acquisition is the way to grow and in certain high priority geographies. We recently acquired International Consumer Products (ICP) in Vietnam, buying 85 per cent stake. The firm is into male grooming cosmetics. There are many opportunities in the global arena. We should try and be in Asia and Africa. South Asia and Africa are of high priority to us,” said Mariwala.

Last year, Marico acquired Malaysian hair styling brand Code 10, Singapore-based skin care firm Derma Rx and South African health brand Ingwe in 2010.

Marico's global business contributes nearly 23 per cent to its overall revenue. The company's revenue in the last fiscal was Rs 2,660 crore while revenue from its international business group was Rs 600 crore.

The recent political turmoil in Egypt has however affected Marico's production lines. It had bought two hair care brands and was working towards making the country its sourcing hub for West Asia and North Africa. Mariwala said 70 per cent of the company's production was affected due to closure of the plants for 10-15 days. “The supply chain got impacted. Even as it is not a substantial loss for us, it is going to affect the international business for Marico in the next quarter,” he said.

Overall, West Asian and North African markets contribute between 5-7 per cent to Marico’s turnover.