Godrej Consumer to buy Raymond's FMCG business for Rs 2,825 crore
Fast-moving consumer goods (FMCG) company of Godrej group, Godrej Consumer Products has signed an agreement to acquire Raymond’s Consumer Care business, which includes men’s grooming brand Park Avenue, sexual wellness brand Kamasutra and deodorant KS Spark.
The firm will pay Rs 2,825 crore in cash for the buyout. Raymond group, which owns a 47.66 percent stake in the consumer care business, had been in talks with various potential buyers for over two years now since the textiles group is of the view that consumer brands are not core to its business.