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FMCG major Emami has acquired controlling stake in Australia based Fravin Pty Ltd along with it’s three subsidiaries for an undisclosed sum.



The acquisition of 66.67 percent stake in Fravin Pty Ltd, a firm manufacturing natural and organic personal care products, has been done by the company’s arm Emami International FZE, Emami said in a statement.



Commenting on the development, Emami Director Harsh Agarwal said: “The Fravin acquisition is in sync with the Company’s strategy to grow aggressively through both organic and inorganic routes in India and overseas.”



This is a significant step for the organisation as the acquisition marks Emami’s entry into organic personal care products where it was not present earlier, he added.



Fravin will be a part of Emami’s International business division, which contributes around 14 per cent to the total FMCG business. Emami has presence in over 60 countries across the world. The scrip of Emami hit 52-week high of Rs 930.5. The stock gained more than 5 percent.



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Posted in: Indian Market Tips