Godrej Consumers Products (GCP) through its wholly owned subsidiary has acquired a balance 25% stake in Canon Chemicals Limited. 

 

The company had earlier acquired 75% stake in Canon Chemicals Limited, Kenya through Godrej East Africa Holdings Limited, a wholly owned subsidiary in 2016. As per the agreement entered into with the sellers, the company has now acquired the balance 25% stake on May 15, 2020.

 

Godrej Consumer Products is a leading emerging markets company. The company is building a presence in 3 emerging markets (Asia, Africa and Latin America) across 3 categories (home care, personal wash and hair care). The company ranks among the largest household insecticide and hair care players in emerging markets. In household insecticides, the company is a leader in India, the second largest player in Indonesia and is expanding its footprint in Africa. The company is rank number two in soaps in India and is number one player in air fresheners and wet tissues in Indonesia.