Retail in Asia

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Godrej buys out Sara Lee in GSLL JV, expands India distribution

After acquiring PT Megasari Makmur Group in Indonesia in April, Indian fast-moving consumer goods major Godrej Consumer Products Ltd (GCPL) is buying out the remaining 51 percent stake in Godrej Sara Lee (GSLL), owned by its joint-venture partner Sara Lee Corp.

With brands like Good Knight and Hit, the 15-year-old joint-venture GSLL currently markets insecticides, mosquito repellents and air fresheners in India. The deal is valued at around INR1,050 crore (INR10.5 billion, USD230.4 million).

According to GCPL, this acquisition will enable it to further expand its distribution in India for the full GCPL and GSLL portfolio and improve penetration in channels such as chemists, modern trade and rural markets.