Marico set to takeover Singapore's Derma Rx

Marico set to takeover Singapore's Derma RxMarico, has said that it is looking forward to buy out Singapore-based company, Derma Rx Asia Pacific (Derma Rx).

The FMCG giant is going to this through its wholly-owned subsidiary, Kaya Limited. Derma is into the business of aesthetics and the takeover is another step in the organic development plan of Marico.

It should be noted that the takeover will allow Kaya to have access to highly-advanced skin-care products, said Marico in a statement. It also added that it will also get to access the markets of advanced nations which includes supplying goods as well.

To details about the amount of money involved in the deal was announced.

Talking about this, Chief of Finance, HR & Strategy, Marcio, Milind Sarwate said that with this acquisition, the company expects that 45 per cent of its revenue in the skin-care solutions will be generated from the overseas market.

As part of the deal, Marico has said that it will start selling Derma Rx products in its India and Middle-East markets also.

Derma Rx has three centers in Singapore and has one in Kuala Lumpur. It has revenue of Rs. 50 crore and caters to as many as 37,000 customers.