Dabur acquires Namasté Group

Dabur India Ltd, a consumer goods company, has acquired 100 per cent equity in Namasté Laboratories LLC and its three subsidiary companies for $100 million, in an all-cash deal. This marks Dabur’s entry into the fast-growing $1.5-billion ethnic hair care products market in US, Europe and Africa. Dabur has recently announced to expand Newu, a beauty retail store brand by Dabur’s, retail subsidiary H&B Stores Ltd, through franchise route.

Dr Anand Burman, Chairman, Dabur India Ltd said, “This acquisition is in line with our strategy to build a global presence in the international FMCG market.” He further shared, “The Namasté Group has a complementary product mix that can be easily integrated with Dabur and will also 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.”

The transaction is expected to be completed by the end of the 2010 calendar year, subject to regulatory approvals in the US. Gary Gardner, founder and CEO of Namasté, along with well experienced management team will continue to run the business as a wholly-owned subsidiary of Dermoviva Skin Essentials Inc - a subsidiary of Dabur India Ltd.