The personal care brand has been acquired at less than 1.5 times of its sales of Euro 8 million.
FMCG major Emami Ltd has acquired German brand Creme 21. The personal care brand has been acquired at less than 1.5 times of its sales of Euro 8 million.
Creme 21 has major business in the Middle East and other focus markets. The brand offers skin care and body care products like creams and lotions, shower gels, sun care range and men's range.
The global acquisition is in line with Emami's strategy for growth through the inorganic route.
Harsha V Agarwal, Director of Emami Ltd, said, "The acquisition has a strong business fit as it operates in our focus markets and chosen categories. We plan to leverage our existing network of distribution and infrastructure to grow the brand. It has good potential for growth and we expect it to add value to our growth trajectory. With this acquisition, the company would be able to enjoy economies of scale due to the additional business base."
More than 80% of the German brand's business is contributed by the Middle East and North Africa (MENA) region and the balance from Germany and other focused countries.