Dabur South Africa, a subsidiary of FMCG manufacturer Dabur, has announced the acquisition of hair care brand Long and Lasting by acquiring both manufacturer and distributor in a deal reportedly worth around 25 crore INR ($3.9 million).
Long and Lasting is manufactured in South Africa by D&A Cosmetics, while the distributor of the product is Atlanta Body & Health Products. Both companies sell mid-range products across the South African market.
“The African hair care market is a high-potential one and the brand we have acquired gives us captive business in the mass premium hair care segment,” commented Dabur chief executive Sunil Duggal.
Last November, Dabur acquired another South African hair care business – CTL Group – for Rs 10 crone ($1.5 million), as part of plans to expand in emerging markets.
Source: The Economic Times