Dabur acquires Hobi Kozmetik Group

Dabur India Ltd has announced the acquisition of Hobi Kozmetik Group, a leading personal care products company in Turkey, for $69 million. Dabur's overseas subsidiary, Dabur International Ltd, has acquired 100% stake in three Hobi Group firms ' Hobi Kozmetik, Zeki Plastik and Ra Pazarlama.

The transaction is expected to be completed by the third quarter of 2010-11. "The acquisition of Hobi Kozmetik is in line with Dabur's strategy to aggressively expand its scale of operations and strengthen its presence in the fast moving consumer goods (FMCG) space across the globe. This acquisition is an important step towards further consolidating and expanding our already substantial presence in the Middle East and North Africa region," Dabur India Ltd. Chairman Dr. Anand Burman said.

Set up in 1974, Hobi Kozmetik is a leading manufacturer of personal care products in Turkey. The company is a market leader in the hair gel category with a 35% share, and markets a wide range of hair care and skin care products under the "Hobby' and "New Era' brands. Its products are sold across 35 countries, including the Middle East and North Africa.