Elder Health Care, the FMCG unit of pharma major Elder Group, is planning to buy two Indian brands in the personal care segment. The possible acquisitions will be from the oral care and body care segments.
The company is keen to close the deal as soon as possible to capitalize on lower valuations available currently. The size of each deal will be in the range of Rs 5-10 crore, and the pharma major is expeccted to appoint a merchant banker shortly.
The acquisition will help Elder to consolidate its presence in the personal care segment. Apart from this, the company is also planning to enter Indian colour cosmetics market.
Elder Health Care has a portfolio of brands like Fairone, Tiger Balm, Fuel for Men and AMPM Mouthwash.