Raymond plans to buy sexual wellness business for Rs 19.3 crore via JK Investo Trade and will sell its gloves business to Pacific Dunlop Holdings for Rs 11.3 crore. This transaction is being made as a part of the deal between companies.
"Scaling up and creating a strong FMCG business is an important driver of value creation for the group. This acquisition of Ansells 50% stake gives us the full ownership of brand KamaSutra that strengthens our FMCG portfolio and is a step towards value creation," said Gautam Hari Singhania, chairman at Raymond Limited.
JK Ansell and JK Helene Curtis has consolidated their annual revenue to Rs 800 crore in last fiscal year. The group also sells the Park Avenue Deodorant.
Last year, the group was also looking for a new division in FMCG sector to include all existing brands and future launches in personal and home care segment.