Saturday, December 23, 2006

Marico acquires Egyptian hair care brand HairCode

Marico has acquired Egyptian hair cream and hair gel brand called HairCode from Cairo-based Pyramids Group for an undisclosed sum. This is Marico’s second big acquisition in the Egyptian hair care market, having earlier purchased another big Egyptian hair care brand called Fiancée in September 2006. Marico has refused to disclosed the size of the brand acquisition but has mentioned the deal size to be significantly higher than its present sales, currently at 41 mn Egyptian pounds, due to the high profitability of the brand.

Read the article from The Economic Times.

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