Indian giant fully buys out Valon jelly maker

Wakanda News Details

Indian giant fully buys out Valon jelly maker

FILE PHOTO | NMG

Godrej Consumer Products has acquired the remaining 25 percent stake in Canon Chemicals, the makers of Valon petroleum jelly, through the wholly-owned Kenyan subsidiary for an undisclosed sum.

In February 2016, Godrej purchased a 75 percent stake in the manufacturer through Kenyan subsidiary Godrej East Africa Holdings Ltd.

“The company through its wholly-owned subsidiary, has acquired the balance 25 percent stake in Canon Chemicals Chemicals Limited,” said GCPL in a regulatory filing.

Post-acquisition, GCPL’s subsidiary now holds a 100 percent stake in Canon.

Canon Chemicals, a Kenya based home and personal care company, manufactures and distributes products in the personal and home care categories including Valon.

Source: Business Daily

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