Dabur divests stake in cosmetics distributor Weikfield International

FMCG major Dabur India has announced that its subsidiary Dabur International has sold its entire stake in UAE-based group firm Weikfield International.

Dabur International had acquired 38.41% stake in Weikfield in September 2003 by purchasing 615 shares in the company.

Weikfield International has ceased to be its step-down subsidiary with effect from 25 June 2012, Dabur India said in a filing with the Bombay Stock Exchange (BSE).

Dabur India is the fourth largest FMCG company in India, which operates in the cosmetics and personal care segments such as hair care, oral care, health care and skin care.

The firm’s flagship brands include Vatika, Fem, among others.

In November 2010, Dabur India through its US-based wholly-owned subsidiary Dermoviva Skin Essentials bought US-based hair care company Namaste Laboratories and its three subsidiaries for $100m (Rs4.46bn).

The firm has also made the acquisition of Turkish personal care company Hobi Kozmetick in September 2010 for Rs324 crore ($69m), which stands the first overseas acquisition.

Weikfield International is in the business of importing, exporting, warehousing and distribution of cosmetics and food products.