New Delhi: FMCG major Dabur today announced acquiring of South Africa-based Discaria Trading (PTY) Ltd, a firm engaged in manufacturing and trading of cosmetics, for an undisclosed amount.
The company in a statement stated the acquiring is done for business of manufacturing and trading of cosmetics products in South Africa.
The company, however, refrained from disclosing the amount involved in the transaction.
“Following the acquisition, ‘Discaria Trading’ has become a step down wholly-owned subsidiary company of Dabur India Ltd with effect from July 14, 2016,” read the statement.
Dabur International further informed that as the acquired firm is registered in South Africa, hence no approval is required.