Godrej Consumer Products (GCPL) on Thursday announced the acquisition of the consumer products business of Raymond Consumer Care (RCCL), a subsidiary of Raymond, in an all-cash deal of Rs 2,825 crore. After announcing the acquisition, SUDHIR SITAPATI, managing director and chief executive officer, GCPL, in a press conference sheds light on the acquisition. Edited excerpts:
What is the reason behind this acquisition?
We’re constantly building strong capability, especially marketing and market development wherewithal. In terms of portfolio, India is by far the most attractive. We’ve got a large salience for soaps — an otherwise sluggish category.
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