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Dabur buys Balsara businesses for Rs. 143 crores



Sunil Duggal, Chief Executive Officer, Dabur India, at a press conference in New Delhi on Thursday. Photo: Ramesh Sharma.

NEW DELHI, JAN. 27. Dabur India today announced the acquisition of Balsara Hygeine and Home Care businesses for Rs. 143 crores and said it would look at more buyouts to capitalise on the consolidation in the sector.

The company board, which met today, approved the acquisition of controlling stake in three Balsara group companies — Balsara Hygiene Products, Balsara Home Products and Besta Cosmectics, Dabur India CEO, Sunil Duggal, told a press conference.

"Balsara's acquisition is certainly not the last one and there may be more strategic takeovers in future,'' he said.

With the acquisition of the Rs. 200-crore Balsara Group in an all cash deal, Dabur India will have oral care brands such as Promise, Babool, Meswak; mosquito repellents such as Odomos and household products such as Odonil and Odopic under its fold.

Dabur India will acquire the entire promoters' stake in the three companies — 99.4 per cent in Balsara Hygiene, 100 per cent in Balsara Home Products and 97.9 per cent in Besta Cosmetics.

Out of Rs.143 crores, which the company will pay to the promoters of Balsara for buying the three firms, Dabur India is mopping up Rs. 120 crores through internal accruals and financing the remaining Rs. 23 crores through borrowings.

The company posted a net profit of Rs. 43.14 crores in the third quarter ended December 31, 2004, a rise of 44.72 per cent against Rs. 29.81 crores in the same period in the previous fiscal. Its turnover rose by 9.29 per cent to Rs. 367.13 crores from Rs. 335.90 crores.

PTI

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