Godrej to acquire foreign brands

FMCG major Godrej today announced it would consolidate its business by going for acquisition of foreign brands, especially in haircare and household insecticide business.

"We have done acquisition of some brands outside India in the past few years. We are mainly looking for acquisition in developing countries like China, Brazil, Indonesia among others," said Adi Godrej, chairman of the Godrej Group in a press interaction.

Godrej decided that the company was "open to acquire a number three or number four brand and integrate it with our business," rather than rather than launching a brand of their own and compete with existing market leaders.