Marico Ltd has acquired the herbal bath soap brand 'Manjal' from Oriental Extractions Pvt Ltd for an undisclosed sum.
Manjal has an annualised turnover of about Rs9 crore, largely in Kerala, with a growing market share. Manjal's brand equity owes its strength to its turmeric-based formulation, which, according to the company, gives the consumer a superior bathing experience.
Till now, the soap was being marketed under the banner of S D Pharmacy, which has over 65 years of expertise in Ayurvedic proprietary medicines and OTC products in Kerala, and a sister concern of Oriental Extractions.
Harsh Mariwala, chairman and managing director expects Manjal to benefit from the marketing reach Marico's network.
Earlier this year, Marico had acquired a clutch of soap brands in Bangladesh - Camelia, Magnolia and Aromatic - as an entry strategy to penetrate Bangladesh's toilet soaps market.