Emami scouting domestic and overseas acquisitions

KOLKATA - City-based Emami Group is planning to acquire a domestic company in the personal and healthcare segment with a market cap of around Rs.800-1,000 crore, a top group official said here Thursday.

“Within the country we are looking at companies having a portfolio of two-three brands,” Chairman R.S. Agarwal told reporters after the annual general meeting of the company.

The Rs.3,000-crore diversified group has engaged Ernst & Young to identify targets for it.

Emami is also looking for a suitable buy in the overseas market in personal care segment and is open to spend up to Rs.1,500 crore for such a buy.

“We are still looking at companies overseas specifically in markets like the Middle East, South Africa and the CIS region,” Agarwal said.

Emami’s products are exported to more than 60 countries.