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Raymond Limited (RAYMOND.BO)

BSE - BSE Real Time Price. Currency in INR
1,878.05+26.65 (+1.44%)
At close: 03:56PM IST
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  • Reuters

    India's Godrej to buy Raymond's consumer business for $345 million

    MUMBAI (Reuters) -India's Godrej Consumer Products Ltd said on Thursday it is acquiring the consumer goods business of Raymond Consumer Care Ltd for $345 million, bolstering its portfolio of brands in the country's fast-growing retail market. Raymond Ltd will sell its popular brands such as the Park Avenue deodorant and Kamasutra condoms to Godrej as part of the deal, which will turn it debt-free and reduce the number of business lines, its chairman Gautam Singhania said in a press conference. The deal comes amid growing competition in India's nearly $900 billion retail market, where Godrej competes with everyone from Reliance Inustries to Unilever and Procter & Gamble .