Godrej Consumer Products Limited (GCPL) announced that it has entered into an agreement to acquire the FMCG business of Raymond Consumer Care Limited (RCCL), a leading player in the deodorants and sexual wellness categories in India. The RCCL FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale.
Raymond Limited announced the demerger of its Lifestyle business to Raymond Consumer Care Limited to create a listed entity focused on B2C Lifestyle Business.
The RCCL FMCG business is being sold to GCPL along with the trademarks of Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale, for a consideration of ₹ 2,825 Crores.
The move to demerge the Lifestyle Business from Raymond Limited will enable the business to be net debt free and will become an independently listed entity. Post demerger of the Lifestyle Business, Raymond Ltd would primarily be a listed real estate company with investments in engineering and denim business.