GraceKennedy finalises Consumer Brands acquisition
GraceKennedy Limited has closed the acquisition of distributor Consumer Brands Limited, effective September 1. The price was not disclosed.
GraceKennedy announced the deal with Athol Smith and his Company Sphinx for the 100 per cent acquisition in mid-July, giving it access to brands made by Procter & Gamble for local distribution.
Consumer Brands, which distributes Charmin, Bounty, Downy, Tide, Ariel, Always, Tampax, Pampers, Febreze, Crest and Olay among others, adds $2 billion of revenue to the conglomerate’s annual sales. GraceKennedy plans to merge the new acquisition with its World Brands operation.