Indian co acquires Aromatic soap
Pallab Bhattacharya, New Delhi
Mumbai-based Marico Ltd yesterday said its wholly-owned subsidiary Marico Bangladesh Ltd (MBL) has signed an agreement with Bangladesh-based Aromatic Cosmetics Ltd (ACL) for acquiring its soap brand "Aromatic". It did not, however, disclose any financial details of the agreement. MBL has also purchased certain equipments and IPR from ACL, the company informed the Bombay Stock Exchange. Aromatic has an aggregate turnover of about Tk 300 million in Bangladesh with a market share of around five percent. Earlier this year, MBL had acquired another soap brand - Camelia, signalling its entry into the toilet soaps market in Bangladesh. MBL is a market leader in the coconut oil category through its flagship brand 'Parachute' and has a strong distribution network of about 2,90,000 outlets in Bangladesh.
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