The company said the acquisition will serve as a platform for it to enter Nigeria and other West African markets.
“Tura helps us leapfrog in our endeavor to build a pan-African presence for our core categories such as personal wash and hair care,” Godrej Consumer Products (GCPL) Chairman Adi Godrej said.
The Tura acquisition is the third one by GPCL in the last two years, after Rapidol and Kinky in South Africa.
Established in 1986, Tura is one of the market leaders in the personal care segment in Africa. It manufactures and distributes a range of products, including soaps, moisturising lotions and skin-toning creams.
“We expect the transaction to provide a tremendous platform for value creation in West Africa,” Godrej said.
The acquisition will also provide an opportunity to introduce Godrej products in the West African region.
“In addition to significant opportunities in soaps, talcs and skin care, the acquisition will enable us to establish a strong foothold in hair care in Nigeria and other Western African countries,”GCPL Managing Director Dalip Sehgal said.
Press Trust of India
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