Godrej snaps up Kenyan personal care company Canon Chemicals

Godrej snaps up Kenyan personal care company Canon Chemicals

Godrej Consumer Products has purchased a stake in Canon Chemicals, a home and personal care business based in Kenya, for an undisclosed sum, according to a report published by The Times of India. The acquisition was made via a subsidiary.

The acquisition will help Godrej grow its presence in the sub-Saharan market, in accordance with its Three by Three strategy, whereby the Indian FMCG giant aims to establish a foothold in three major markets (Asia, Africa and Latin America), across three categories, namely home care, body wash and hair care.

Canon Chemicals reported revenue of KES1,146 million in 2015. The family-run firm’s range spans petroleum jelly, baby care, detergents, air fresheners and candles.

”Canon has a strong track record of serving consumers in Kenya for over 40 years and we look forward to leveraging its strong brand equity and distribution infrastructure for our business,” said Vivek Gambhir, Managing Director, Godrej Consumer Products. “This acquisition reflects our continued commitment to scaling up our presence in Africa and providing African consumers with a wide range of superior quality products at affordable prices. We remain very excited by the tremendous potential of the African market and look forward to further building our business.”