Marico acquires M'sian hair care brand Code 10 from Colgate
Wednesday, 6 January 2010
MUMBAI, Jan 5 (Economic Times): Marico, makers of Parachute hair oil and Saffola edible oil, said Monday it has bought Colgate Palmolive's hair care brand Code 10 for an undisclosed sum, as it pushes for revenue growth in the South-East Asian markets and strengthens its position to fight future competition in India.
"Code 10 brings strong consumer equity in our portfolio and this brand will provide us with a platform in the South-East Asian market," said Vijay Subramaniam, CEO, international business, Marico. "Code 10 is the third-largest selling brand in Malaysia and enjoys a double-digit market share.
"Code 10 brings strong consumer equity in our portfolio and this brand will provide us with a platform in the South-East Asian market," said Vijay Subramaniam, CEO, international business, Marico. "Code 10 is the third-largest selling brand in Malaysia and enjoys a double-digit market share.