Emami acquires German personal care brand

Fast-moving consumer goods maker Emami Ltd said it has acquired German personal care brand Creme 21 GmbH as part of its inorganic growth strategy. The acquisition will boost the company's international business, particularly in West Asia, South Asia and Russia, Emami said in a stock-exchange filing. Emami said the value of the deal is less than 1.5 times the annual sales of Creme 21. The German brand had an annual revenue of around €8 million. This means the deal value is around €12 million (about Rs 97 crore). The Indian company is funding the acquisition from internal accruals. Harsha V Agarwal, Director at Emami, said: “The acquisition of Creme 21 has a strong business fit as it operates in Emami's focus markets and chosen categories. “With this acquisition, the company would be able to enjoy economies of scale due to additional business base.” Creme 21 offers skin and body-care products including creams, lotions and shower gels. Its products are manufactured by a third party in Germany. Emami makes personal care, healthcare and beauty products. Its brands include Zandu pain balm, BoroPlus antiseptic cream and Navratna hair oil. It also operates in the male grooming segment through its brands Fair and Handsome, and HE.