Godrej Consumer Products agrees to buy Strength of Nature

Godrej Consumer Products (GCPL) has entered an agreement to acquire Strength of Nature (SON), a US-based company that manufactures haircare products for a range of hair types.

Part of GCPL’s global 3 by 3 strategy, the deal will enable GCPL to create a platform for wet hair care products in Africa and build its presence in the $1.8bn global wet hair care category.

SON is further expected to balance GCPL’s portfolio in Africa, building on its position in dry hair care segment and hair colours in the region.

Godrej Group chairman Adi Godrej said: "Over the past few years, we have been scaling up our international presence with acquisitions that fit well in our 3 by 3 strategy, a presence in emerging markets in Asia, Africa and Latin America through three core categories: haircare, home care and personal care.

"These strategic acquisitions have strongly aided our growth story. Through them, we have both extended our core businesses and implicitly broadened our presence to a wider canvas."

Currently, SON, which has presence in Africa and the Caribbean, has a portfolio of brands in wet hair care, across relaxers, maintenance, styling and shampoos.

SON has several product offerings that include African Pride, TCB, Just for Me, Motions and Profectiv MegaGrowth.

SON founder and president Mario de la Guardia said: "We believe that with the expertise and resources from Godrej, we will be able to transform our business, both to serve our consumers and communities better and tap into new growth opportunities across the world, particularly in Africa.

"We are now even better positioned to provide our talented team stronger opportunities to learn, grow and contribute to serving our consumers."

The company has manufacturing facilities in Savannah, Georgia, US.

GCPL managing director Vivek Gambhir said: "The USA market is at the forefront of innovation for hair care products and shapes global trends in this space.

"Through Strength of Nature, we will be able to draw on consumer insights and product expertise that will enable us to launch more innovative products for women of African descent. Strength of Nature’s strong presence in the US, with deep distribution and world-class manufacturing, additionally provides attractive opportunities for growth.

"African American women spend more than three times on hair care than other women in the region. There is also a marked increase in their spending power."