MUMBAI: Marico Bangladesh Ltd (MBL), the Bangladesh-based wholly owned subsidiary of Marico LTD, has acquired the toilet soap brand “Aromatic” from Aromatic Cosmetics LTD (ACL).
ACL is a Bangladeshi personal care product company. The financial terms were not disclosed.
The transaction included the signing of a suitable non-compete agreement between MBL and ACL as well as the purchase of certain equipment and intellectual property rights (IPR).
Aromatic has an aggregate turnover of about Taka 300 million in Bangladesh with a market share of around five per cent. Aromatic’s brand equity owes its strength to the quality of the soap and its positioning based on the “halal” concept, which has a strong recall amongst consumers.
Earlier this year, MBL had acquired another soap brand, Camelia to signal its entry into the toilet soaps market in Bangladesh. The acquisition of Aromatic will now enable MBL to strengthen its presence in the soaps category that is estimated to be about Taka 6,000 million.
Marico currently enjoys market leadership in the coconut oil category in Bangladesh through its brand Parachute. A strong distribution network that reaches about 290,000 outlets supports this.
Leave a Reply