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Shardul Amarchand, Khaitan act on $257m haircare FMCG sale

Shardul Amarchand Mangaldas (SAM) advised Himachal Pradesh-based SBS Biotech on selling for Rs 1,651 crore its hair and scalp care businesses Kesh King and Kesh Pari to FMCG player Emami, which was advised by Khaitan & Co.

SAM partners Jatin Aneja, Anubhuti Agarwal and Dev Robinson, principal associate Siddhartha Sen and associate Madhur Chopra acted for SBS Biotech.

Khaitan partners Haigreve Khaitan and Adheesh Nargolkar, associate partner Surbhi Kejriwal, senior associate Abhishek Thanvi and executive director Dinesh Agarwal acted for Emami.

Kesh King and allied brands had a revenue of Rs 300 crore in 2014-15 and have been growing at an average of 68 per cent a year for the last three years, while Emami, which makes a first foray into the hair and scalp care business with this acquisition, had reported a 20.7 per cent year-on-year rise in net profit to Rs 486 crore for 2014-15, and a 21.8 per cent rise in revenue to Rs.2,217 crore, reported Mint.

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