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Products sold to Godrej on slump sale basis, says Agarwal
India’s Raymond Group will continue to manufacture its brands for export and domestic markets and sell them to Godrej Consumer Care from its Aurangabad plant.
The manufacturing will be on contract basis and B2B supply basis for the domestic market.
Raymond sold its three consumer care brands — the Kamasutra condoms and the grooming brands of Park Avenue perfumes and the KS deodorants — to the Godrej group for Rs.2,825 crore.
The company’s Chief Financial Officer Amit Agarwal said on 27 April that the deal is on a slump sale basis.
The entire proceeds from the sale, which comes at almost 5x (5-fold) of its sales in FY22 (Rs.522 crore). fiinews.com
