Piramal Enterprises’ Consumer Products Division announces the acquisition of the baby-care brand “Little’s”, which includes the entire product range across six categories.
Launched in India in 1980, Little’s is present across a wide range of products including – baby feeding bottles, baby skin-care, baby grooming accessories, baby apparels and baby toys. The brand is currently available across 25,000 outlets in India and has been growing at a CAGR of 30% over the past few years.
According to an independent research firm – KEN research, the brand operates in the INR 1,000 crore non-food baby-care category, which is growing at 13%. The brand is available at chemists, cosmetics & kids stores, modern trade and e-commerce formats. Little’s brand is preferred by mothers of babies in the age group of 0-4 years.
Kedar Rajadnye, COO, Piramal Enterprises – Consumer Products Division said, “At Piramal Consumer Products, we started our journey in 2009 as an independent player and ranked 40th in the OTC category in India. Over the last 6 years, the business has grown rapidly at 24% and is now ranked 7th amongst all OTC companies in India. We have built a portfolio of strong brands of which six are among the Top 100 OTC brands in India. Our brands like Saridon, i-Pill, Lacto Calamine, Polycrol, Tetmosol and Caladryl have a strong consumer franchise and all are either a no.1 or no.2 player in their respective categories.”
“In line with our strategy, we aim to be a Top 3 player in the OTC market by 2020 and we believe that Little’s will help us achieve this goal. Currently, we cater to the 5-10 age groups through the Jungle Magic brand. With this acquisition, we now have an offering for babies in the 0-4 age group. This allows us to partner with mothers and provide well-being solutions for their children right from their birth till they reach the age of 10 years.” added Kedar.
Little’s has the potential to become a power brand, given the Piramal sales and marketing strengths. The brand will leverage the distribution network of the Consumer Products Division, which currently covers towns that have a population in excess of 1 lakh in India.
Darshan Deora, Managing Director – Little’s said “We are very pleased that Little’s brand is being acquired by Piramal Enterprises, which is one of the leading conglomerates in India. Little’s has grown considerably over the years and today it is one of the most promising brands in the baby-care segment. Piramal’s Consumer Products Division, which has one of the best distribution networks in India, is the perfect partner to take Little’s to new heights. Piramal team has a proven track record with their other brands as well. I wish them all the best for the future.”
About Piramal Enterprises Limited
Piramal Enterprises Limited (PEL) is one of India’s large diversified companies, with a presence in Healthcare, Healthcare Information Management and Financial Services. PEL’s consolidated revenues were over $ 830 million in FY2015, with approx. 70% of revenues from outside India.
In healthcare, PEL is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anesthetics. It also has a strong presence in the OTC segment in India. The Molecular Imaging Division was formed in 2012 with presence in Europe and USA.
PEL’s healthcare information management business, Decision Resources Group, is amongst the top 20 US market research organizations which provide information services to the healthcare industry.
In financial services, PEL, through its Piramal Fund Management Division, provides comprehensive financing solutions to real estate companies. The Structured Investment Group (“SIG”) provides long term patient mezzanine growth capital to capital intensive businesses which are integral part of India’s growth story. The total funds under management under these businesses are over $ 2.5 billion. The company also has strategic alliances with top global pension funds like CPPIB Credit Investment Inc. and APG Asset Management. PEL also has long term equity investments worth over $ 700 million in Shriram Group, a leading financial conglomerate in India.
PEL is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
About Piramal’s Consumer Products Business
The Consumer Products Business at Piramal is one of the fastest growing in the domestic consumer healthcare market in India and is currently ranked 7th amongst all OTC players. The Business has a portfolio of successful brands like Saridon, Lacto Calamine, I range of Products (i-pill, i-know, i-can), QuikKool, Polycrol, Jungle Magic (Perfumes, Bands), Tetmosol, Caladryl and six of its brands feature amongst the top 100 OTC brands. Most of the brands in the portfolio are either no. 1 or no.2 in their respective categories. The business has a strong distribution footprint and covers all 1 lac + population towns in India.