Indian FMCG major, Godrej Consumer Products Ltd (GCPL)’s, Board of Directors has approved the merger of Godrej Household Products Limited (GHPL, earlier known as Godrej Sara Lee) with GCPL. This is subsequent to GCPL’s acquisition of the remaining 51 percent stake in Godrej Sara Lee (GSLL), owned by its JV partner, Sara Lee Corp. This merger consolidates GCPL’s position in the Indian FMCG space, making it the largest homegrown home and personal care portfolio in India, and the second largest household insecticides company in Asia. “The merger of GHPL with GCPL is an important milestone in our aspiration towards becoming a leading FMCG company. We continue to remain focused on our global three-by-three strategy – presence in three continents – Asia, Africa and Latin America – through three core categories – home care, personal wash and hair care. The merger will provide us with significant strategic and operational benefits,” says Adi Godrej, Chairman, GCPL.
Posted on: 20.10.2010
Source: www. worldpressonline.com