Godrej Consumer Products Ltd (GCPL) announced on 21 January that it has entered into an agreement to acquire 60% stake in Cosmetica Nacional, a market leading hair colorant and cosmetics company in Chile. The company has a strong portfolio of brands in the hair care and color cosmetics segments. With its brands well positioned across income and age levels, Cosmetica Nacional enjoys greater than 30% market share (by volume) in the hair colorant space. With this move, GCPL continues to expand its focused presence in emerging markets in line with its global 3 x 3 strategy.
Cosmética Nacional (CN) was founded in 1979 by Fernando García, a chemist by training. He continues to lead the company as its Chief Executive Officer. CN had sales of about 36 million US dollars in the year 2011 and enjoys EBITDA margins of about 20%. The company exports its products to seven countries in the region.
In 2010 Godrej acquired two Argintine cosmetics companies.