GCPL acquires 100 pc stake of Darling Group in Ghana

Press Trust of India, Business Standard, 01 October 2014

Godrej Consumer Products (GCPL) today said it would fully acquire the hair extensions business of the Darling Group in Ghana.

The company has entered into an agreement with the Darling Group for this, GCPL informed the BSE.

" ... It has entered into an agreement with the Darling Group for acquisition of 100 per cent stake in the hair extensions business in Ghana.

GCPL had in February 2014 completed the acquisition of 100 per cent stake in Darling Nigeria.

"With this acquisition, GCPL will own 100 per cent of the hair extensions businesses of both Nigeria and Ghana in West Africa," GCPL informed.

In June 2011, GCPL had acquired 51 per cent stake in African hair care company Darling Group Holdings for an undisclosed amount.

Darling Group Holdings operates in 14 countries across Africa selling hair extension products under brand names like 'Darling' and 'Amigos'.