Raymond a textile and apparel major has acquired its joint venture partner Ansell's stake in JK Ansell. The company has acquired 100 percent ownership of the sexual wellness and personal care business under the brand KamaSutra, which will help it to scale its FMCG business portfolio and unlock the potential of brand KamaSutra globally.
As per the proposed deal, the sexual wellness and personal care business will continue to remain in JK Ansell, which will become a wholly-owned subsidiary of JK Investo Trade (JKIT). JKIT will sell its stake in the gloves business to Pacific Dunlop Holdings (Singapore), an Ansell group company," the company said in a statement here.
Raymond Chairman and Managing Director Gautam Singhania said that scaling up and creating a strong FMCG business is an important driver of value creation for the group. This acquisition of Ansell's 50 percent stake gives them the full ownership of brand KamaSutra that strengthens their FMCG portfolio and is a step towards value creation.
The KamaSutra brand, launched 25 years ago in the sexual wellness space, has been extended to deodorants. The acquisition will allow the company to structure its FMCG businesses to unlock cost and revenue synergies with the other group company JK Helene Curtis.
Raymond President - FMCG Business Giriraj Bagri said that having outlined a detailed roadmap, brand KamaSutra is poised to feature among the top five global brands in the sexual wellness category.
With this acquisition combined FMCG business is expected to be Rs 800 crore in consumer value in FY18. This gives them the scale and opportunity to rejuvenate their FMCG brands and strengthen sales and distribution network.
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