Godrej Consumer to buy 100% equity stake in Frika Hair

Godrej Consumer Products Limited has entered into an agreement with Frika Hair (Pty) Limited, for the acquisition of 100 per cent equity stake in its hair extensions business in South Africa. Frika Hair (Pty) Limited enjoys a premium position in the South African market and has particular strengths in the Western Cape, Eastern Cape and Gauteng, being the market leader in key accounts in organised retail. In 2014, a net sale of the company was approximately ZAR 73 million. This acquisition helps GCPL in consolidating its presence in the hair extensions market in South Africa.

Commenting on the acquisition, Vivek Gambhir, Managing Director, GCPL, said, "We are delighted to add the Frika brand to our hair extensions portfolio in Africa. With its quality range of premium hair extensions, the Frika range of hair extensions provides a strong complementary addition to our darling masstige portfolio. This acquisition reflects our continued commitment to scale up our presence in Africa and providing African consumers with a wide range of superior quality products at affordable prices. We remain very excited by the tremendous potential of the African market and look forward to further building our business.”

GCPL is the largest home-grown home and personal care company in India and is well  ranked for brands like Good knight, Cinthol, Godrej Expert, Godrej No. 1 to name a few. In line with its 3X3 approach to international expansion, it is aimed at building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 categories (home care, personal wash, hair care).