Emami acquires German brand Creme 21 for Rs 100 crore

Creme 21, which has major business in the Middle East and other focus markets, has been acquired at less than 1.5 times of its sales, said Emami in a statement.

New Delhi: Homegrown FMCG major Emamion Friday announced the acquisition of German personal care brand Creme 21, for Rs 100 crore.

Creme 21, which has major business in the Middle East and other focus markets, has been acquired at less than 1.5 times of its sales, said Emami in a statement.

"This international acquisition is in line with the company's strategy for growth through the inorganic route," said the Kolkata-headquartered firm.

The acquisition is being funded from internal accruals, it added.

Emami Director Harsha V Agarwal said: "We plan to leverage our existing network of distribution and infrastructure to grow the brand. Creme 21 is an iconic German brand that has a high brand recall. The brand has good potential for growth and we expect it to add value to our growth trajectory."

The German brand was acquired by Ms Antje J Willems Stickel in 2003.

Creme 21 offers skin care and body care products, which include creams and lotions, shower gels, sun care range, and men's range.

"With the current sale at over 8 million euro and a gross margin of over 50 per cent, Emami expects to take this brand on an aggressive growth trajectory," said Emami.

Over 80 per cent of Creme 21's business is contributed by MENA region (Middle East and North Africa) and the rest comes from Germany and other focused countries, it added.