Thursday, January 27, 2005

Dabur buys Balsara for Rs143cr

Consumer goods major Dabur India Ltd. has acquired Balsara's hygiene and home products businesses, a leading provider of oral care and household care products in India, for Rs. 143 Crore ($32.7 million). Dabur's board has approved the acquisition of the entire promoters' stake in the three Balsara companies - 99.4% in Balsara Hygiene Products, 100% in Balsara Home Products and 97.9% of Besta Cosmetics. Dabur will soon seek shareholders' approval for completing the acquisition. The Balsara Group, which has oral care brands like Promise and Babool, mosquito repellents like Odomos and household products like Odonil and Odopic, has a sales turnover of Rs.2 billion ($45.8 million). The group has manufacturing facilities in three locations. In addition to its core oral care and household care businesses, Balsara operates in the high-growth herbal extracts business.