Godrej Consumer Products buys 60pc stake in Chilean firm

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Godrej Consumer Products (GCPL) today announced that it has entered into an agreement to 60% stake in Cosmetica Nacional, a market leader in hair colorant and cosmetics company in Chile.

The company has a strong portfolio of brands in the hair care and colour cosmetics segments. With its brands well-positioned acorss income and age levels, Cosmetica Nacional enjoys greater than 30% market share (by volume) in the hair colorant space. With this move, GCPL continues to expand its focussed presence in emerging markets in line with its "global 3x3 strategy".

Cosmetica Nacional, founded in 1979 and led by founder and CEO Fernando Garcia, had sales of about $36 million in 2011 and enjoys an EBITDA margin of 20%. With a strong history of product innovation, its brand Ilicit has been very successful with market leadership for the last 10 years.