Homegrown FMCG major Dabur today said it has acquired South Africa-based Discaria Trading (PTY) Ltd, a firm engaged in manufacturing and trading of cosmetics, for an undisclosed amount.
Dabur International, a wholly-owned subsidiary of Dabur has completely acquired Discaria Trading on July 14, 2016, the company informed BSE.
It “has been acquired to do the business of manufacturing and trading of cosmetics products in South Africa,” Dabur said.
Without disclosing the amount involved in the transaction, the company said: “Nature of consideration shall be in cash”.
Following the acquisition, “Discaria Trading has become a step down wholly-owned subsidiary company of Dabur India Ltd with effect from July 14, 2016,” it said.
It further informed that as the acquired firm is registered in South Africa, hence “no approval is required”.
Discaria Trading was incorporated in March 2015.
Shares of Dabur today closed 0.55 per cent up at Rs 313.35 ascrip on BSE.