Godrej Shopper Merchandise Ltd (GCPL) on Thursday introduced that it has entered into an settlement to amass the FMCG enterprise of Raymond Shopper Care Restricted (RCCL), a number one participant within the deodorants and sexual wellness classes in India. The RCCL FMCG enterprise is being bought to GCPL together with the emblems of Park Avenue (for the FMCG class), KS, KamaSutra and Premium, via a hunch sale.

In a inventory alternate submitting, GCPL stated price of the acqusition is Rs 2,825 crore and is anticipated to be accomplished by Might 10, 2023.

Commenting on the announcement, Sudhir Sitapati, Managing Director and CEO, GCPL, stated: “We’re excited to welcome the Raymond Shopper Care group and types to Godrej Shopper Merchandise. This acquisition permits us to enhance our enterprise portfolio and development technique with under-penetrated classes that supply an extended runway of development. Raymond is a number one participant within the deodorants and sexual wellness classes with manufacturers like Park Avenue and KamaSutra.

“These classes have the potential to ship double-digit multi-decade development given the low per capita consumption in India in comparison with comparable rising markets. Per-capita consumption (USD) of deodorants in India is 0.4x that in Indonesia, 0.05x that in Brazil and 0.04x that within the USA. We sit up for constructing on this potential by unlocking the numerous integration synergies with our enterprise.”

Atul Singh, Group Vice Chairman, Raymond Group, added: ““We have now divested our FMCG enterprise with emblems of Park Avenue, Kamasutra for FMCG classes to Godrej Shopper Merchandise. We take pleasure in constructing sturdy homegrown manufacturers which might be amongst the leaders of their classes. Having introduced these manufacturers on the forefront of shopper recall, we imagine that Godrej Shopper Merchandise will present the requisite impetus to additional drive the expansion of those manufacturers.”