Godrej Consumer Products acquires remaining 40% stake in Cosmetica Nacional

Godrej Consumer Products, a home-grown home and personal care company in India, is to acquire 40% that it does not currently own in Cosmetica Nacional, increasing its ownership to 100%.

The financial terms of the acquisition are not disclosed.

The company initially acquired a 60% stake in the Chilean pharmaceutical-cosmetic company in January 2012, The Press Trust of India reported.

Based in Quinta Normal, Cosmetica Nacional produces and markets hair colors and cosmetics. Its hair, nail, and skin care products are supplied through distributors in Costa Rica, Panama, Peru, Bolivia, Paraguay, Uruguay, Brazil, and Ecuador.

Godrej Consumer Products said in a regulatory filing: "The Board of Directors of the company (GCPL) have approved acquiring the balance 40 per cent stake in Cosmetica Nacional, a market leading hair colorant and cosmetics company in Chile."

Godrej Consumer Products manufactures and sells personal and household care products in India and internationally including toilet soaps, shaving creams, and hand wash; and hair care products, such as hair colors.

It offers personal wash products under the Cinthol, Godrej No.1, Fairglow, and Protekt brand names; and shaving cream and hair care under the Godrej Expert, Nupur, Renew, and Colour Soft brands.