Godrej Consumer Products has acquired the FMCG business of Raymond, which includes the brands Park Avenue and KamaSutra, for Rs 2,285 crore. The deal is expected to be finalised by May 10. Sudhir Sitapati, MD and CEO of Godrej Consumer, said the acquisition will enable the company to supplement its business portfolio with under-penetrated categories that offer significant growth potential. Raymond's sales amounted to Rs 522 crore last fiscal, making it one of the top five firms in the men's deodorant and third largest in the branded condom segments.
