New Delhi, May 25 (IANS) Consumer products company Marico Tuesday said its wholly-owned subsidiary Kaya has acquired the aesthetics business of Singapore-based Derma Rx Asia Pacific Pte Ltd for an undisclosed sum.
Kaya delivers skin care solutions in India, the Middle East and Bangladesh through its range of Kaya Skin Clinics.
‘The acquisition provides Kaya access to an advanced range of skin care products and a strong sourcing network, including suppliers of products from developed nations,’ Marico, the maker of Parachute and Saffola brands, said in a statement.
With this acquisition, about 45 percent of skin care solution revenue of Marico will come from overseas. It will also help Kaya increase its share of revenue from product sales to over 20 percent as against current 13 percent.
Besides establishing itself in the southeast Asian region, Kaya plans to introduce Derma Rx products over time in India.
The Derma Rx’s founder S.K. Tan will continue to be engaged in the business for the next three years to facilitate the transition and provide Kaya with the know-how and experience, the statement added.
Marico’s turnover stood at Rs.2,661 crore for 2009-10 and with a customer base of 37,000. Derma Rx generates Rs.50 crore.