BLUE ISLAND, Ill. — Namaste Laboratories LLC, manufacturer of Organic Root Stimulator, has agreed to be acquired by Dabur India Ltd. through the latter’s wholly owned U.S. subsidiary, Dermoviva Skin Essentials Inc.
Namaste Laboratories LLC, manufacturer of Organic Root Stimulator, has agreed to be acquired by Dabur India Ltd. through the latter’s wholly owned U.S. subsidiary, Dermoviva Skin Essentials Inc.
The transaction, which is subject to customary conditions and approvals, is expected to close by the end of the 2010 calendar year.
The Namaste business will continue to be run by founder and chief executive officer Gary Gardner and the rest of the management team. The sales team, including broker representatives, will remain in place and existing relationships with retailers, wholesalers, distributors and suppliers will not change. Namaste will also continue to operate out of its present facility in Blue Island, Ill.
"In Dabur, Namaste has found a strategic partner that can help accomplish its goal of becoming the hair care brand of choice for people of African descent worldwide," said Gardner. "This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings and in market platforms with Namaste’s stronghold in the U.S. and Dabur’s strengths outside North America."
Dabur is a leading consumer goods company with 125 years of experience in health care, hair care, oral care and skin care on several continents, particularly Asia and Africa. With a substantial presence and infrastructure in Africa, Dabur offers Namaste the opportunity to work together to offer high-quality, natural-based products to consumers of color across the globe.
"This acquisition is in line with our strategy to build a global presence in the international consumer goods market," said Anand Burman, chairman of Dabur. "Namaste has a complementary product mix that can be easily integrated with Dabur and will also serve as a gateway to the U.S. market for our portfolio of consumer products."
"Due to the increasingly global nature of the marketplace, Namaste recognizes that to become a global brand today requires expertise and resources in regions outside of North America," said Gardner. "The complementary nature of Dabur and Namaste will result in a more successful business with improved long-term growth potential."