Dabur to acquire CTL Group’s personal care business

India-based consumer products firm Dabur's South African unit has entered into an agreement with CTL Group's personal care business.

The value of the deal is estimated to be approximately ZAR18.8m ($1.5m).

Dabur was quoted by Livemint.com as stating: “Under the agreement, Dabur South Africa (Pty) Ltd will acquire the South African business of development, manufacturing, packaging and sale of personal care products (haircare and creams) of CTL Contracting Proprietary Ltd, in addition to certain equipment of Carbotec Laboratories Proprietary Ltd and immovable property from CTL Management and Personnel Services Proprietary Ltd.” 

Dabur's India chief executive officer Sunil Duggal was quoted by Business Standard as saying: "With this acquisition, Dabur has consolidated its position as a leading player in the global personal care products market.

"This acquisition represents a significant step for Dabur in our strategy to accelerate growth in the international market, particularly Africa.

"The strategic acquisition, which will help advance our personal care business in Africa, ushers in a new and exciting era of robust growth at Dabur. We expect this transaction to provide a tremendous platform for value creation in Africa."

This is Dabur's second acquisition in South Africa and in July, it acquired cosmetics company Discaria trading. It operates two manufacturing facilities in Africa, one each in Nigeria and Egypt.