The FMCG major chose to take the acquisition route in South Africa as setting up a greenfield facility would have come at additional expenditure, said Dabur’s Chief Executive Sunil Duggal. He added that revenues from South Africa stand at USD 10 million and the company is targeting USD 50 million in the next five years.
Homegrown FMCG major Dabur said it will acquire the personal care, haircare and creams businesses of South Africa based-CTL group of companies in a deal valued at about Rs 10 crore. The acquisition marks Dabur's foray into the South African personal care market, the company said in a statement.
