Breaking News

Marico Industries Buys

November 14, 2005

Ayurvedic skin care brand Sundari was sold to Marico Industries Ltd., Mum-bai, India, a $142 million conglomerate that chiefly produces oils for consumer and personal care products. The purchase price was not disclosed.
The acquisition gives Marico a 70.5% equity stake in Sundari, with 29.5% share remaining in the hands of the founders and their private backers, according to a statement.
Several Sundari officers have announced they will remain with the company for an undisclosed amount of time. Christy Turlington, one of the company’s three founders, will remain an advisory board member but has “relinquished all managerial responsibilities to (co-founder) (Ayla) Hussain and Marico,” Ms. Turlington said.
She added, “This partnership will reinforce the brand’s Indian heritage and also provide infrastructure that will enable Sundari to continue to flourish in the marketplace. (It’s) a wonderful opportunity to do what we set out to do—combine tried and tested wisdom from the East with innovation and reinterpretation in the West.”
Mr. Hussain will remain as chief executive of the new venture, while the third co-founder, Cavan Mahoney, has left the company.
blog comments powered by Disqus
  • Cosmetic Chemists Head to Orlando Next Month

    Cosmetic Chemists Head to Orlando Next Month

    September 26, 2016
    Organizing Chair Guy Padulo explains why you should attend the IFSCC Congress.

  • Restoring Rembrandt

    Restoring Rembrandt

    Christine Esposito, Associate Editor||September 26, 2016
    Ranir LLC has acquired Rembrandt, an iconic name in teeth whitening, and plans to make it a staple in the value segment.

  • Active Agents

    Active Agents

    September 19, 2016
    On the surface, surfactants may seem staid, but the market, and the supplier activity driving it, is bubbling.

  • Back to School

    Back to School

    Tom Branna, Editorial Director||September 1, 2016
    It may be September, but class was in session this summer during the Private Label Manufacturers Association’s Executive Educ

  • What

    What's In Your Formula?

    Christine Esposito, Associate Editor||September 1, 2016
    A look at the ingredients beauty brands are using to fuel their formulations and capture consumers’ attention.

  • A Sweet-Smelling Sanctuary

    A Sweet-Smelling Sanctuary

    Melissa Meisel, Associate Editor||September 1, 2016
    Home fragrance is enhanced by aromatic developments in delivery and components.