India’s FMCG Major Emami Acquires Controlling Stakes In Australian Personal Care Fravin

Indian personal care major Emami Limited’s wholly owned Middle East subsidiary Emami Overseas FZE has acquired controlling stakes in Australia-based company Fravin Pty Ltd. The fast-moving consumer good firm of India has bought 66.67% stakes in the target company.

“Consequent to the above acquisition, Fravin Pty Ltd along with its three subsidiary firms have also become subsidiaries of the Company (Emami Limited),” said the company in a letter to the National Stock Exchange (NSE) dated January 22, 2015.

The company also stated that Fravin Pty Ltd primarily manufactures natural and organic personal care products in Australia and has a stronghold in the research and development sector of the field. However, the company did not disclose the value of the deal in its filings.

It should be noted that Emami has been eyeing overseas acquisition in order to strengthen its brand portfolio via international deals. According to a news report, the homegrown company has been emphasising on brand extensions and has plans of investing in brand promotion as well as new launches.