Dabur acquires US-based Namasté Group, all set to enter hair care market in Africa

Dabur India Ltd announced the completion of the acquisition of 100% equity in Namasté Laboratories LLC and its three subsidiary companies -- Hair Rejuvenation & Revitalization Nigeria Limited, Healing Hair Laboratories International, LLC, and Urban Laboratories International, LLC ' for $100 million, in an all-cash deal. Dabur India Ltd's wholly owned subsidiary Dermoviva Skin Essentials Inc. has completed the acquisition process, which marks Dabur's entry into the fast-growing $1.5-billion ethnic hair care products market in U.S., Europe and Africa.

Accordingly, the four companies, Namasté Laboratories, Hair Rejuvenation & Revitalization, Healing Hair Laboratories and Urban Laboratories, have become step-down subsidiaries of Dabur. "With this acquisition, Dabur has consolidated its position as a leading player in the global personal care market. The completion of this acquisition represents a significant step for Dabur in our strategy to accelerate growth in the international market. The acquisition of Namasté group is an important step towards further consolidating and expanding Dabur's already substantial presence in Africa, serving as one of the key pillars in strengthening our competitive position in the African continent," said Dabur India Ltd Group Director P. D. Narang.

Gary Gardner, founder and CEO of Namasté, along with the well experienced management team will continue to run the business as a wholly-owned subsidiary of Dermoviva Skin Essentials Inc. Founded in 1996 to fulfill the needs of the health-conscious consumers of African descent, Namasté Laboratories offers a range of products developed with natural ingredients. Namasté markets a portfolio of products under the Organic Root Stimulator® brand and is one of the leading marketers of hair and beauty products for women of colour.

The company controls a 12% market share in the US and enjoys significant market positions in many countries in Africa, the Middle East, Europe and the Caribbean region of North America. It has a strong multi-channel distribution platform across the US in mass, retail, beauty stores and salons.

"As with our previous acquisition and subsequent integration of Balsara, Fem and Turkey's Hobi Kozmetik, this acquisition too offers substantial synergies for expanding the reach of Namasté's brands in Africa. We are confident that the opportunities for capitalizing on the strengths of Namasté's business across our international operations are significant," said P. D. Narang.