Dabur India acquires Namaste Labs

Dabur India Ltd. announced that its wholly owned subsidiary Dermoviva Skin Essentials, USA has entered into Unit Purchase Agreement to acquire 100% membership units in leading personal care Namaste Group Companies viz - Namaste Laboratories LLC, USA and its three subsidiaries for total consideration of US$100mn. The transaction is subject to customary conditions, including regulatory reviews and approvals and is expected to close by the end of the 2010 calendar year. The current management team, led by Namaste founder and CEO Gary Gardner, will continue to run the operations of the Namaste business. The sales team, including broker representatives, will remain in place, and existing relationships with retailers, wholesalers, distributors and suppliers will not change. Namaste will continue to operate in its current facility in Blue Island, IL, with business as usual and without interruption.