GCPL acquires balance 25% stake in Kenya-based Canon Chemicals
- FMCG major Godrej Consumer Products Ltd (GCPL) on Friday announced acquisition of the balance 25 per cent stake in Kenya-based Canon Chemicals Ltd for an undisclosed sum.
- Canon Chemicals would now be a wholly-owned subsidiary of the company.The acquisition was made through its step down firm Godrej East Africa Holdings Ltd.
- “The Company through its wholly-owned subsidiary, has acquired the balance 25 per cent stake in Canon Chemicals Limited,” said GCPL in a regulatory filing.
- The Godrej Group firm had earlier acquired 75 per cent stake in Canon Chemicals Limited, Kenya, in 2016.
- Canon Chemicals is a Kenya-based manufacturer of consumer products.
- GCPL is expanding its presence in the African markets and has done substantial acquisitions also in the past to strengthen its presence in the subcontinent.
- In the last quarter, January-March, GCPL’s revenue from Africa (including Strength of Nature) market was at Rs 484.03 crore.
About Godrej Consumer Products Ltd (GCPL)-
- Godrej Consumer Products Limited (GCPL) is an Indian consumer goods company based in Mumbai, India. GCPL’s products include soap, hair colourants, toiletries and liquid detergents
- Its brands include ‘Cinthol’, ‘Godrej Fair Glow’, ‘Godrej No.1’ and ‘Godrej Shikakai’ in soaps, ‘Godrej Powder Hair Dye’, ‘Renew’, ‘ColourSoft’ in hair colourants and ‘Ezee’ liquid detergent. GCPL operates several manufacturing facilities in India spread over seven locations and grouped into four operating clusters at Malanpur (Madhya Pradesh), Guwahati (Assam), Baddi- Thana (Himachal Pradesh), Baddi- Katha (Himachal Pradesh), Pondicherry, Chennai and Sikkim.
- Founded – 2001
- Headquarters – Mumbai, Maharashtra
- Managing Director– Vivek Gambhir
About Canon Chemicals Ltd.-
- CANON CHEMICALS LIMITED is located in Nairobi, Kenya and is part of the Manufacturing Sector Industry. CANON CHEMICALS LIMITED has 200 employees at this location and generates $13.91 million in sales (USD). There are 2 companies in the CANON CHEMICALS LIMITED corporate family.
- Headquarters – Nairobi, Kenya
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