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    Marico acquires a South African hair styling brand Isoplus for around Rs 36 crore

    Synopsis

    At present, Marico has brands such as Caivil, Black Chic and Hercules in South African aftercare maintenance, chemical treatments and hair colour segments.

    ET Bureau
    MUMBAI: Marico has acquired a South African hair styling brand Isoplus for around Rs 36 crore in an effort to complete its ethnic hair care portfolio in the country.

    The brand of styling products such as oil sheens and gels has an annual sales of Rs 30 crore and is the market leader in the styling products with about 27% share. The acquisition is through Marico's wholly owned step-down subsidiary and includes manufacturing facilities, working capital and all intellectual property rights from its original owners - JM Products and Mary L Harris.

    "This bolt-on acquisition plugs a critical gap in Marico's portfolio in the ethnic hair care space in South Africa," Saugata Gupta, MD at Marico said in a statement.

    At present, Marico has brands such as Caivil, Black Chic and Hercules in South African aftercare maintenance, chemical treatments and hair colour segments. With South Africa is the second largest economy in Africa, its growth has been sluggish and is at risk of falling into a recession. For the maker of Parachute, South Africa accounts for nearly 7% of its international business that in turn contributes nearly a fourth of the overall revenue.


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