Shares of Hindustan Unilever (HUL) surged ten for each cent to Rs two,059.eighty on the BSE on Tuesday soon after the customer products important introduced the acquisition of personal cleanliness manufacturer VWash from Glenmark Pharmaceuticals for an undisclosed sum.
The deal would incorporate an upfront funds payment and a deferred consideration above the future 3 many years, the company explained in an exchange submitting yesterday. The acquisition involves mental assets, trademark and design of the manufacturer. Study THE Exchange Submitting Below
“The acquisition gives us entry into the now underpenetrated and speedily expanding woman personal cleanliness segment. The manufacturer has a leadership placement and fits nicely into the white spaces in our Magnificence and Particular Treatment small business,” HUL’s Chairman and Handling Director, Sanjiv Mehta explained.
Glenmark will manufacture VWash for HUL above the future a person calendar year soon after which the output arrangement would be reviewed, HUL’s chief