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Emami acquires German personal care brand Creme 21 for undisclosed amount

twitter-logo PTI        Last Updated: January 25, 2019  | 16:53 IST

New Delhi, Jan 25 (PTI) Homegrown FMCG major Emami Friday announced acquisition of German personal care brand Creme 21, for an undisclosed amount. Creme 21, which has major business in 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 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. Its products are manufactured by a third party in Germany under asset lean model. PTI KRH HRS

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