MAM
Dabur acquires US firm Namaste Laboratories for $100 mn
MUMBAI: FMCG major Dabur India has acquired US based Namaste Laboratories, maker of organic root stimulator, for $100 million in an all-cash deal.
The deal signed through Dabur’s US-based wholly owned subsidiary Dermoviva Skin Essentials is expected to close by the end of 2010.
It will enable Dabur to gain greater foothold in the Asian and African markets.
“This acquisition is in line with our strategy to build a global presence in the international consumer goods market,” said Dabur chairman Anand Burman.
“It will serve as a gateway to the US market for our portfolio of consumer products. This transaction will also enhance our profitability, increase stakeholder value and substantially add to Dabur‘s already strong presence in Africa, serving as one of the key pillars in strengthening our position in the African continent,” Burman added.
The current management team, led by Namaste founder and CEO Gary Gardner, will continue to run the operations of the Namaste business. Namaste will continue to operate in its current facility in Blue Island, with business as usual.
Namaste founder and CEO Gary Gardner said, “In Dabur, Namaste has found a strategic partner that can help accomplish its goal of becoming the hair care brand of choice for people of African descent worldwide. This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings, and in market platforms with Namaste‘s stronghold in the US and Dabur‘s strengths outside North America. We know our employees, customers, distributors and retailers will benefit from this great growth opportunity.”
Houlihan Lokey served as a financial advisor to Namaste.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
