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
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
