New Delhi, Aug 13 (IANS) India’s fast moving consumer goods and personal care major Marico Ltd Friday said it has acquired health care brand Ingwe from South Africa’s Guideline Trading.
Ingwe has a turnover of Rs.150 million and its range of products includes immuno boosters, Marico said in a regulatory filing.
Marico did not disclose the investment involved in the acquisition.
Marico, which owns hair and health care brands such as Caivil, Black Chic and Hercules, ventured into the South African market in 2007.
‘Ingwe complements the Hercules range. I am confident this acquisition will strengthen our distribution reach and step up our growth momentum,’ said John Mason, managing director, Marico, South Africa, in a statement.
