Godrej Consumer completes acquisition of Kinky
Kinky, one of the leaders in the South African hair business, is a 36 year old business set up by a family of entrepreneurs in South Africa
Godrej Consumer Products Ltd. (GCPL) has completed the acquisition of 100% stake in the Kinky Group (Proprietary) Ltd, South Africa (Kinky). The purchase price paid for the acquisition is about South African Rand 265 mn.
Adi Godrej, Chairman and Managing Director, GCPL, said, “We are very excited about this acquisition. It gives us the opportunity to enter into a new line of business and diversify our hair product portfolio. Through Kinky we can further expand our presence in South Africa where we are already present with our acquisition of Rapidol (Pty) Ltd.”
Kinky, one of the leaders in the South African hair business, is a 36 year old business set up by a family of entrepreneurs in South Africa and has trademarks registered in South Africa.
Kinky offers a variety of products which include hair, hair braids, hair pieces, wigs and wefted pieces. It also offers hair accessories like styling gels, hair sprays, oil free shampoo. The products are manufactured at plants Located in South Africa at Johannesburg and Durban and the final products are sold through cash n carry outlets and owned stores
