Specialty chemicals marketer and distributor Connell Brothers (CBC), a division of Wilbur-Ellis, has acquired Mumbai-based personal and health care ingredients distribution business Mascot Universal. The terms of the deal were not disclosed.
India is one of CBC’s strategic markets thanks to the growth witnessed in the personal care market, fueled by rapid urbanization and rising disposable income.
“Mascot Universal places an emphasis on marketing excellence and technical competency, making the company a strategic fit for CBC and our growth plans,” said Tejas Parekh, General Manager of CBC, India. “By combining our expertise and resources we can create even greater value for our customers and further solidify our position in the personal care and health care markets in India.”
Under the terms of the deal, CBC will acquire Mascot’s offices in Delhi and Bangalore in addition to its Mumbai headquarters as well as its warehousing facilities, personal care labs and pilot plant. Mohit Lalvani, Founder and Managing Director of Mascot Universal, and his team, will join CBC and lead the newly named Mascot Personal and Health Care Business Unit, under CBC’s Indian division.
“The long-term approach to the business and passion to serve customers of both of our companies are truly aligned,” said Lalvani. “It will be a seamless transition for our business and we are excited at the growth opportunities ahead.”