11.17.10
Namaste Laboratories, LLC, the Blue Island, IL maker of Organic Root Stimulator, has been acquired by Dabur India Ltd., through its U.S.-based wholly-owned subsidiary Dermoviva Skin Essentials Inc.
The transaction, subject to customary conditions including regulatory reviews and approvals, is expected to close by the end of 2010.
The current management team, led by Namaste founder and chief executive officer Gary Gardner, will continue to run the operations of the Namaste business. The sales team, including broker representatives, will remain in place, and existing relationships with retailers, wholesalers, distributors and suppliers will not change.
"This acquisition is in line with our strategy to build a global presence in the international consumer goods market," said Dabur India Ltd. chairman Dr. Anand Burman. "Namaste has a complementary product mix that can be easily integrated with Dabur and will also serve as a gateway to the U.S. market for our portfolio of consumer products. This transaction will also enhance our profitability, increase stakeholder value and substantially add to Dabur's already strong presence in Africa, serving as one of the key pillars in strengthening our position in the African continent."
"In Dabur, Namaste has found a strategic partner that can help accomplish its goal of becoming the hair care brand of choice for people of African descent worldwide,” said Gardner. “This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings, and in market platforms with Namaste's stronghold in the U.S. and Dabur's strengths outside North America. We know our employees, customers, distributors and retailers will benefit from this great growth opportunity."
The transaction, subject to customary conditions including regulatory reviews and approvals, is expected to close by the end of 2010.
The current management team, led by Namaste founder and chief executive officer Gary Gardner, will continue to run the operations of the Namaste business. The sales team, including broker representatives, will remain in place, and existing relationships with retailers, wholesalers, distributors and suppliers will not change.
Dabur, which has a substantial presence and infrastructure in Africa, offers Namaste the opportunity to work together to offer high quality, natural-based products to consumers of color worldwide, the companies said.
"This acquisition is in line with our strategy to build a global presence in the international consumer goods market," said Dabur India Ltd. chairman Dr. Anand Burman. "Namaste has a complementary product mix that can be easily integrated with Dabur and will also serve as a gateway to the U.S. market for our portfolio of consumer products. This transaction will also enhance our profitability, increase stakeholder value and substantially add to Dabur's already strong presence in Africa, serving as one of the key pillars in strengthening our position in the African continent."
"In Dabur, Namaste has found a strategic partner that can help accomplish its goal of becoming the hair care brand of choice for people of African descent worldwide,” said Gardner. “This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings, and in market platforms with Namaste's stronghold in the U.S. and Dabur's strengths outside North America. We know our employees, customers, distributors and retailers will benefit from this great growth opportunity."