Key Points
Packaged consumer goods company Godrej Consumer Products Ltd (GCPL) has signed an agreement to acquire Raymonds Consumer Care business, which includes mens grooming brand Park Avenue, sexual wellness brand Kamasutra and deodorant KS Spark, the diversified group announced on Thursday...
Raymond's FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale, the company said in a stock exchange filing...
The Singhania-family owned Raymond group, which owns 47.66 per cent stake in the consumer care business, had been in talks with various potential buyers for over two years now, since the textiles group is of the view that the consumer brands are not core to its business...
Raymond Group operates in the FMCG industry through its associate company Raymond Consumer Care Limited (RCCL), under which the personal care, sexual wellness and home care were integrated in FY19-20..
Mid last year, direct-to-consumer company Good Glamm Group had called off talks to acquire Raymonds consumer care business, with negotiations being stalled on valuations..
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