Marico buys Derma Rx's aesthetic skin care business in Singapore to expand Kaya
25 May 2010
Marico Limited has acquired the aesthetics skin care business of Singapore-based Derma Rx Asia Pacific Pte Ltd through its newly-incorporated subsidiary Derma Rx International Aesthetics Pte Ltd, to expand its Kaya skin care business.
Marico, which delivers skin care solutions in India and overseas through its range of Kaya skin clinics, did not disclose the value of the deal.
The deal envisages the acquisition by Derma Rx International Aesthetics Pte Ltd, a wholly owned subsidiary of Kaya Limited, of the IPRs relating to DermaRx's business and the shares in wholly owned subsidiaries of Derma Rx Asia Pacific Pte Ltd, Marico said in a filing with the Bombay Stock Exchange (BSE).
Derma Rx, led by one of Singapore's eminent aesthetic physicians, Dr S K Tan, operates three centres in Singapore and one in Kuala Lumpur.
With a customer base of about 37,000, Derma Rx generates a turnover of an equivalent of about Rs50 crore. The business is expected to be earnings accretive in the very first year.
This acquisition provides Kaya access to an advanced range of skin care products and a strong sourcing network, including suppliers of products from developed nations, the release said.
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