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Textile major Raymond has acquired remaining 50 per cent stake in joint venture JK Ansell in an effort to scale up its consumer products business and take its key brand KamaSutra globally.
Raymond through JK Investo Trade will buy out the sexual wellness business for about Rs 19.3 crore and sell the gloves business to its partner, Pacific Dunlop Holdings.
This acquisition of Ansell’s 50% stake will give Raymond the full ownership of the brand KamaSutra that strengthens their FMCG portfolio.
Scaling up and creating a strong FMCG business is an important driver of value creation for the group. This move will play a vital role in creating a value for its business in time to come.