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SC Johnson scooping up AllOut for Rs 180 cr: The Economic Times
Mumbai, Jan 11: SC Johnson &Sons, a leading US-based consumer packaged goods company, has reached an agreement to buy a 50% equity stake in Karamchand Appliances Private Ltd, a privately held Delhi-based company which owns the AllOut brand, a leading mosquito repellent.
Mumbai, Jan 11: SC Johnson &Sons, a leading US-based consumer packaged goods company, has reached an agreement to buy a 50% equity stake in Karamchand Appliances Private Ltd, a privately held Delhi-based company which owns the AllOut brand, a leading mosquito repellent.
While the size of the deal is not known, industry sources estimate it to be the Rs 170-180 crore range, which would make it among the bigger FMCG deals in the Indian market. AllOut is a Rs 150-crore brand, and analysts said it was likely to be valued at slightly above one-time sales. SC Johnson, which is also privately held and has annual revenues of $5bn, is expected to approach FIPB around mid-January to seek its approval.
While the size of the deal is not known, industry sources estimate it to be the Rs 170-180 crore range, which would make it among the bigger FMCG deals in the Indian market. AllOut is a Rs 150-crore brand, and analysts said it was likely to be valued at slightly above one-time sales. SC Johnson, which is also privately held and has annual revenues of $5bn, is expected to approach FIPB around mid-January to seek its approval.