NEW DELHI: Personal care and food products maker Dabur India Ltd on Tuesday said it has agreed to acquire over-the-counter energizer brand ’30-Plus’ from Ajanta Pharma .
The company didn’t disclose the deal value but a report in The Economic Times on Monday, citing sources, said the acquisition would be likely for less than 500 million rupees.
PwC was the advisor to the deal, Dabur said. “The acquisition of ’30-Plus’ is part of an aggressive strategy to build capability on the OTC health care business,” Group Director P.D. Narang said in a statement.
Ajanta Pharma had launched 30-Plus as a herbal energiser capsule in 1990 and positioned it, as the name suggests, for men over 30 years in age.
At 1.45 p.m., shares in Dabur, valued at about $4 billion, were trading flat on Tuesday in a Mumbai market that was down 1.73 percent. Ajanta Pharma shares, valued at $68 million, were down 1.5 percent.
Source: economictimesNo tags for this post.