Godrej to acquire the FMCG business of Raymond Consumer Care for $345m.

Godrej, an Indian multinational conglomerate, agreed to acquire the FMCG business of Raymond Consumer Care, an FMCG manufacturer in Mumbai, for $345m. "We are excited to welcome the Raymond Consumer Care team and brands to Godrej Consumer Products. This acquisition allows us to complement our business portfolio and growth strategy with under-penetrated categories that offer a long runway of growth. Raymond is a leading player in the deodorants and sexual wellness categories with brands like Park Avenue and KamaSutra. These categories have the potential to deliver double-digit multi-decade growth given the low percapita consumption in India compared to similar emerging markets. Per-capita consumption (USD) of deodorants in India is 0.4x that in Indonesia, 0.05x that in Brazil and 0.04x that in the USA. We look forward to building on this potential by unlocking the significant integration synergies with our business," Sudhir Sitapati, GCPL Managing Director and CEO.