After acquiring the Egyptian haircare brand Fiancée in September, India-based Marico Industries is hungry for more. The company was scanning the Egyptian market for more acquisitions in October; this time Marico is looking closely at the beauty and wellness segments. Marico may also examine rationalizing the Fiancée portfolio, company officials said last month.
A source close to Marico said the group was already in talks for other brand acquisitions. Marico, like others in its industry, prefers to purchase brands rather than entire companies.
Also last month, Marico appointed Brajesh Bajpai, a former executive of Frito-Lay India, as the Cairo-based country director of Marico Egypt. Marico might also make Egypt the hub for its expansion into other African markets.
From Business Today Egypt
