Godrej expands in Africa

"We remain very excited by the tremendous potential of the African market and look forward to further building our business,” Godrej Consumer Products Limited (GCPL) managing director Vivek Gambhir was reported as saying in Daily News and Analysis (DNA) of January 7, 2015. The FMCG (fast moving consumer goods) major had just fully acquired South Africa’s hair extensions firm Frika Hair (Pty) Limited for an undisclosed sum in order to consolidate its position in that market.
"This acquisition reflects our continued commitment to scaling up our presence in Africa and providing African consumers with a wide range of superior quality products at affordable rates,” Gambhir told DNA. GCPL’s business currently fetches annual revenues of US $ 200 million and the company has been acquiring brands in Africa, targeting mostly local firms in emerging markets, DNA reports.