GCPL Completes Acquisition of Megasari Group in Indonesia.Pdf

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GCPL Completes Acquisition of Megasari Group in Indonesia.Pdf PRESS RELEASE Godrej Consumer Products Limited (GCPL) completes acquisition of Megasari Group in Indonesia PT. Megasari Makmur Group along with its distributor PT. Intrasari Raya is a leading household care company in Indonesia This acquisition leapfrogs Godrej Group into being a leading player in Household Insecticides in Asia with strong market share positions in India, Sri Lanka, Nepal, Bangladesh & Indonesia Acquisition to be a strong platform for Godrej home care and personal care products in Indonesia May 17, 2010. Mumbai, India: Godrej Consumer Products Ltd (GCPL) today announced that it has completed the acquisition of PT. Megasari Makmur Group and its distribution company in Indonesia. Megasari Group manufactures and distributes a wide range of household products including household insecticides, wet tissues and air fresheners. Megasari Group’s products are market leaders in Indonesia in most of the categories that the company participates in. The acquisition is expected to be very accretive for GCPL in year one itself and has been funded by overseas debt at a very attractive price. Commenting on the acquisition, Adi Godrej, Chairman, GCPL, said: “Megasari Group provides us a strong platform to establish a significant foothold in Indonesia, which is among the largest consumer markets in Asia. Given Megasari Group’s leading position in household product categories in Indonesia and the Godrej Group’s strong presence in this category in India, we believe this acquisition will provide significant synergies and create value for shareholders. As an emerging market multinational, this acquisition is an important step in our global 3 by 3 strategy – presence in 3 continents – Asia, Africa and Latin America through 3 core categories - home care, personal wash and hair care. Over the last few years, we have been following a very disciplined and focused approach to identifying acquisitions that represent a strong fit with our business, both strategically and operationally. We have also developed strong processes to manage and integrate these acquisitions. We look forward to working with the Megasari team to take the company to the next level along with creating a platform for other Godrej products in Indonesia.” A. Mahendran, Director, FMCG Portfolio Cell for the Godrej Group added: “We welcome Megasari Group to the Godrej Group. Megasari Group fits in very well with our entrepreneurial culture and aspiration to become a global powerhouse in household insecticides. We will achieve this by leveraging our significant expertise in this space in related consumer markets that provide attractive growth prospects. As one of the largest household insecticide and air care companies in Indonesia, the company has a strong track record in innovative high quality value-for-money products to the Indonesian consumer. We look forward to working with the seasoned Megasari team to further accelerate growth and leverage synergies between Megasari Group and the Godrej Group” Integration Plan Godrej Consumer Products Ltd. Pirojshanagar, www.godrejcp.com Eastern Express Highway, Vikhroli, Mumbai, 400 079, India. Megasari Group’s current management team will continue to be involved with the companies. Godrej Group has put in place a cross functional team consisting of current Megasari employees and Godrej’s team from India. The cross-functional team is being led by Naveen Gupta who has 14 years of FMCG experience and has spent 8 years in Godrej Sara Lee’s International Operations. Naveen has spearheaded the diligence and negotiations for this transaction. He is a MBA graduate from IIFT with Bachelors in Engineering from Delhi College of Engineering. Naveen has moved to Indonesia to manage the integration & enhance business value. Press enquires: Deepti Shetty Tel: 09819836003 Manager, Corporate Communications Godrej Industries Ltd. Sachin Bhandary Tel: 09819954815 Perfect Relations Godrej Consumer Products Ltd. Pirojshanagar, www.godrejcp.com Eastern Express Highway, Vikhroli, Mumbai 400 079, India. .
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