Marico to acquire personal care brands 'Purité de Prôvence' and 'Ôliv' in Vietnam

Marico Limited (BSE: 531642, NSE: "MARICO") has announced that it's wholly owned subsidiary, Marico South-East Asia Corporation (MSEA), has entered into a definitive agreement to acquire 100% of Beauty X Corporation. Beauty X owns female personal care brands "Purité de Prôvence" and "Ôliv", which offer a range of premium and differentiated hair care and skin care products in Vietnam, such as shower gels, shampoos, conditioners, face wash, lotions, among others.

Purité de Prôvence, launched in 2011, honors pure and natural beauty with the know-how and ingredients of Provence, France, which come to life in various fragrances such as lavender, cherry blossom, rose, among others.

Ôliv, launched in 2017, brings the goodness of extra virgin olive oil, combined with other natural ingredients, in its wide range of products for nourishment of hair and skin.

The natural and unique proposition offered by the brands has gained consumer traction and the business is growing profitably.

Saugata Gupta, MD and CEO, Marico Limited, said, "The addition of Purité de Prôvence and Ôliv presents an opportunity to significantly expand our play in female beauty and personal care category and therefore increase our total addressable market in a high growth country like Vietnam. Both brands have established a distinct natural proposition and scaled up profitably in a rather short span of time. We are buoyant about the medium-term prospects of beauty and personal care category in Vietnam and expect to further stepup growth and profitability through investing in brand building and leveraging various operational synergies with our existing portfolio over the next few years."

Shares of Marico Limited was last trading in BSE at Rs. 510.35 as compared to the previous close of Rs. 510.30. The total number of shares traded during the day was 19809 in over 1082 trades.

The stock hit an intraday high of Rs. 515.55 and intraday low of 507.55. The net turnover during the day was Rs. 10143468.00.

Source : Equity Bulls

Keywords

Marico INE196A01026 Acquisition BeautyXCorporation