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My Award Winning News Write-Up

July 18, 2010

Godrej Goes Stake Shopping

MUMBAI. Godrej Consumer Products Limited (GCPL) is on an acquisition spree. Since March, this year, the Mumbai-based FMCG major has bought stakes in 5 companies spanning 3 continents, Latin America, Africa and Asia.

Within less than two weeks in June-July, Godrej has bought 100% stakes in two Latin American firms – Issue Group and Argencos. The Issue Group, the Latin American market leader in hair color, has a strong presence across Argentina, Peru, Uruguay and Paraguay. Argencos is an Argentinean hair care company. “Argencos is a perfect, complementary add-on to our earlier acquisition of Issue Group. I expect the combination of the two businesses to set us on a firm footing in achieving our plans for Latin America,” says GCPL Chairman Adi Godrej. These two Latin American buyouts cost Godrej USD 43 million.

In March, GCPL acquired the Nigeria-based company, Tura, famous for its medicated soaps. In April, GCPL acquired Indonesia’s Megasari Group, that has a stronghold in the household products market.

At  home, GCPL bought the remaining 51% stake in the 15-year old joint venture, Godrej Sara Lee for Rs. 1,100 crores giving Godrej 100% ownership in the company. This “catapults GCPL to becoming the country’s strongest performers in the area of household products” GCPL chairman Adi Godrej proudly comments. The joint venture would primarily market insecticides, including the mosquito repellant brand Good Knight and Hit, air freshener Ambi Pur and shoe polish Kiwi in India. Post this acquisition, Godrej Sara Lee will be renamed as Godrej Household Products Limited.

With strong brands and the aim to achieve greater heights strategically, Godrej has the potential of emerging as a premier consumer care product company in the global market.

Won the 2nd Prize for the News Writing Assignment/Contest for the EIM TOI Print Journalism Workshop.
Note: This is the first time in my entire life that I’ve won an award. I personally am grateful for my support system (family and friends) and everybody who made it possible for me to attend the classes irrespective of my tight office schedules.

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