FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.
Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.
While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.
However, it should be noted that the transaction is, subject to necessary regulatory approvals.