Marico Ltd said its unit Kaya Ltd bought the aesthetics business of the Singapore-based Derma Rx Asia Pacific Pte Ltd. No price details were provided.
Kaya delivers skin care solutions in India and overseas through its range of Kaya Skin Clinics. Derma Rx, led by one of Singapore eminent aesthetic physicians, Dr SK Tan, has three centres in Singapore and one in Kuala Lumpur.
The acquisition would provide Kaya access to an advanced range of skin care products and a strong sourcing network, including suppliers of products from developed nations. It would also enable Kaya to increase its share of revenue, from sale of products, to over 20% from the current level of about 13%.
On Tuesday Marico shares ended 4.33% down at Rs100.45 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.71% down at 16,022.48 points.
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