Homegrown FMCG major Dabur said that it has completed acquisition of personal, hair care and creams businesses of South Africa based-CTL group of companies.
According to a PTI report: In November last year, Dabur said its arm Dabur South Africa (PTY) has entered into an agreement to acquire the South African business of development, manufacturing, packaging and sale of personal care products of CTL Contracting Proprietary.
The deal is valued at US $1.5 million (Rs 10 crore).
In a regulatory filing, Dabur said the handover of business from CTL Group of companies has been completed on April 3.
The acquisition marks Dabur’s entry into the South African personal care market.