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.
MAM
Shoppers Stop elevates Biju Kassim as GSS Beauty CEO
Move comes as GSS Beauty scales global brand partnerships in India.
MUMBAI: From store shelves to global shelves, the beauty game is getting a sharper makeover. Shoppers Stop has elevated Biju Kassim as managing director and chief executive officer of Global SS Beauty Brands Limited (GSSBB), signalling a stronger push into the premium beauty segment. The move builds on Kassim’s role in setting up GSSBB, a wholly owned subsidiary that has quickly positioned itself as a fast-growing distribution platform for global beauty brands in India. The unit has been central to Shoppers Stop’s ambition of expanding its footprint in the high-margin beauty and luxury categories.
Chairman Nirvik Singh noted that Kassim’s experience across the beauty ecosystem and his understanding of premium and luxury consumers would help steer the next phase of growth. The focus, he indicated, will be on sharpening the company’s beauty portfolio and scaling partnerships with international brands.
Kassim, for his part, steps into the role at a time when India’s premium beauty market is undergoing rapid evolution, driven by rising consumer aspirations and increased access to global labels. He highlighted that GSSBB will remain a key strategic pillar, with an emphasis on expanding brand partnerships, enhancing consumer experiences and driving growth across markets.
As global beauty brands continue to eye India as a high-growth destination, Shoppers Stop’s bet is clear: owning not just the shelf, but the entire beauty ecosystem behind it.
