Ajanta Pharma sells ’30-Plus’ to Dabur

The acquisition of '30-Plus' is part of an aggressive strategy to build capability on OTC health care biz.

Fast moving consumer goods firm Dabur said it has signed an agreement with Mumbai-based Ajanta Pharma to acquire the latter’s energising capsule brand ’30-Plus’ for an undisclosed amount.

“The acquisition of ’30-Plus’ is part of an aggressive strategy to build capability on the over-the-counter (OTC) health care business and I am confident that this transaction will helps us in our endeavour to further strengthen our portfolio in this category,” Dabur India Group Director P D Narang said in a statement.

Launched in 1990 as an herbal energiser capsule,30-Plus was a key brand for Ajanta Pharmaceuticals.

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“Endorsed by Bollywood veterans like Jeetendra,it was positioned as an energising capsule for thirty-plus males and was an instant hit among consumers in India,” the statement said.

Dabur has identified healthcare as a key growth area for the future and is lining up a host of initiatives for this segment going ahead.

“As with our previous acquisitions,this deal too will offer us synergies and an opportunity to broaden the company’s product portfolio to further capitalise on the emerging opportunities in domestic and international markets,” Narang added.

Even Ajanta Pharma disclosed the deal with Dabur through a filing on the Bombay Stock Exchange (BSE).

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“30-Plus is one of the oldest and strongest healthcare energiser brands in the country. However,with the change in focus at Ajanta Pharma,the OTC brand was stagnant for some time,though it still enjoys a strong recall as an energiser brand,” Ajanta Pharma Managing Director Yogesh Agrawal said.

The firm makes products in the areas of anti-malaria,cardiology,dermatology,gastroenterology,musculoskeletal and ophthalmology.

Dabur has been scouting for potential targets in the personal and healthcare segments to make acquisitions both in the domestic and overseas markets.

In January this year,the company had acquired US-based personal care firm Namaste Group for USD 100 million (about Rs 451 crore) and in September last year it had completed acquisition of Turkish personal care firm Hobi Kozmetik Group for USD 69 million (about Rs 324 crore).

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In India,the company has successfully acquired Balsara Hygiene and Home Products and Fem Care Pharma.

While Dabur’s sharess closed at Rs 100,down 0.89 per cent from the previous close,Ajanta Pharma’s scrip closed at Rs 255,down 1.77 per cent from the previous close on the BSE.