Personal and Healthcare FMCG company Emami has acquired controlling 66.67 percent stake in Australia based Fravin for an undisclosed amount.
The takeover marks Emami’s entry into the fast growing organic personal care products business. Fravin, which has three subsidiaries, has its product development and manufacturing facility in Adelaide, Australia.
"The Fravin acquisition is in sync with the company’s strategy to grow aggressively through both organic and inorganic routes in India and overseas. This is a significant step for the organisation as the acquisition marks Emami’s entry into organic personal care products, where we were not present earlier. The market for organic personal care products is growing at rapid pace across the world. The global market for organic products which was over USD 7.6 billion in 2013, is expected to double in six years.” said Harsh Agarwal, Director, Emami.
Fravin Group manufactures a full range of hair care and skin care products that are certified organic by various certification bodies in Australia and United States.
The Group has major strength in R&D of various advanced technology like Trans follicular Anti-Ageing serums.
Peter Francis, Managing Director, Fravin, said, “We are very enthusiastic to be associated with a global company like Emami. There are strong synergies between the two companies. With Emami’s strong marketing network and our R&D capabilities and advanced technologies, we expect to take Abache brands to new heights.”
Fravin will be a part of Emami’s International business division, which contributes around 14 percent to the total FMCG business. Emami has presence in over 60 countries across the world.