Godrej buys Indonesian pesticide maker Megasari Makmur
07 April 2010
Godrej Consumer Products Ltd (GCPL) on Tuesday announced that it is acquiring Indonesia-based insecticides maker Megasari Makmur Group and its distribution company for an undisclosed sum, its second overseas acquisition in a month.
"The Megasari Group provides us a strong platform to establish a significant foothold in Indonesia, which is among the largest consumer markets in Asia," GCPL chairman Adi Godrej said in a statement from Mumbai.
Godrej said the acquisition will help to strengthen his company's presence in Asia, Africa and Latin America through three core categories - home care, personal wash and hair care. Besides, it will also provide a platform for launching home care and personal care products from the Godrej stable in Indonesia, he added.
"Over the last few years, we have been following a very disciplined and focused approach to identifying acquisitions that represent a strong fit with our business, both strategically and operationally," Godrej said.
Last month, GCPL had announced the acquisition of Nigeria's personal care brand Tura as part of its strategy to enter Nigeria and other West African markets. The Megasari acquisition is the fourth one by the company in the past two years, after Rapidol and Kinky in South Africa, and Tura in Nigeria.
The Megasari Group, along with its distributor Intrasari Raya, is among the market leaders in Indonesia, particularly in the household insecticides category.