Marico, a leading FMCG player, has acquired healthcare brand ‘Ingwe’ from the South Africa-based Guideline Trading for an undisclosed amount. It has bought the over-the-counter healthcare brand and its related intellectual property rights (IPR) through its subsidiary Marico South Africa (MSA). “Ingwe comes as an effective bolt-on acquisition. It will help us in our endeavor to build a critical mass that can optimally leverage MSA’s management bandwidth and realise synergies of scale,” says Vijay Subramaniam, Chief Executive Officer, Marico Group. John Mason, Managing Director, Marico South Africa, further asserts, “Ingwe has an elegant strategic fit with Marico South Africa’s portfolio. The acquisition will strengthen the company’s distribution reach, particularly with regard to independent trade and stepping up its growth momentum.” Marico had entered South Africa in October 2007, through the acquisition of consumer products division of Enaleni Pharmaceuticals, which sells haircare brands like Caivil and Black Chic and healthcare brand Hercules.
Source: www.economictimes.com
