Dabur Acquired South African Cosmetics Rading Firm ‘Discaria’
• Homegrown FMCG major Dabur acquired South Africa-based Discaria Trading (PTY) Limited, a firm engaged in manufacturing and trading of cosmetics, for an undisclosed amount on July 17, 2016.
• The company’s wholly-owned subsidiary Dabur Internationa] has acquired 100% share capital of Discaria Trading in South Africa. Accordingly, Discaria has become a step down wholly-owned subsidiary company of Dabur India.
• This marks Dabur’s entry in the high-potential South Africa market. The company currently has manufacturing in Nigeria and Egypt, which caters to the North and East African markets.
• Following this acquisition, Dabur is likely to set-up a greenfield manufacturing facility in South Africa.
Amul Offered Sponsorship to IOA for Rio Olympics 2016
• Dairy major Amul on June 29 announced to sponsor the Indian contingent for Rio 2016 Olympic Games on July 3, 2016.
• The Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells its product under the brand Amul, will pay Rs 1 crore to the Indian Olympic Association (IOA) for the sponsorship.
• The agreement for the official sponsorship of the Indian contingent in 2016 Olympic games, was signed by IOA Secretary General Rajeev Mehta and GCMMF Managing Director RS Sodhi.
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