Marico acquires South Africa’s Isoplus

Marico Limited announced on Friday that the company’s wholly-owned subsidiary, Marico South Africa Pty. (MSA), has acquired the business of Isoplus, including intellectual property rights from its owners. The deal was finalised for the consideration of 75 million South Africa Rand (Rs 36 crore) at a revenue multiple of 1.2.
 
Isoplus is a leading hair styling brand in South Africa and J M Products and Ms Mary L Harris were its earlier owners.
 
This acquisition will enable the MSA to become a full spectrum ethnic hair care company in South Africa. The acquisition comprises purchase of manufacturing facilities, working capital and all intellectual property rights owned by J M products and Ms. Mary L. Harris.
 
The deal is expected to be completed by mid of third quarter of FY18.
 
Currently, Marico is present in South Africa through brands like Caivil, Black Chic, Just for Kids, Hercules and Medi-Pac and is amongst the key players in the aftercare maintenance, chemical treatments and hair colour segments.
 
This acquisition of the styling business of J M Products makes Marico’s portfolio in ethnic hair care complete.