BLUE ISLAND, Ill. — Namasté Laboratories, the maker of Organic Root Stimulator, has agreed to be acquired by Dabur India Ltd.
Namasté said this week that the deal calls for the company to be acquired through Dabur’s U.S.-based subsidiary Dermoviva Skin Essentials Inc. Financial terms of the agreement weren’t disclosed, and the transaction is expected to be finalized by the end of the calendar year pending regulatory and other approvals.
Plans call for the current management team, led by Namasté founder and chief executive officer Gary Gardner, to continue to run the company’s business operations. The sales team, including broker representatives, will remain in place, and existing relationships with retailers, wholesalers, distributors and suppliers won’t change. Namasté also will continue to operate in its current facility in Blue Island, Ill.
"In Dabur, Namasté 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," Gardner said in a statement. "This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings, and in market platforms with Namasté’s stronghold in the U.S. and Dabur’s strengths outside North America. We know our employees, customers, distributors and retailers will benefit from this great growth opportunity."
Dabur is a global consumer goods company with 125 years of experience in health care, hair care, oral care and skin care products, particularly Asia and Africa. Namasté said that Dabur provides the opportunity to offer high-quality natural products to consumers of color worldwide.
"This acquisition is in line with our strategy to build a global presence in the international consumer goods market," stated Dabur India chairman Dr. Anand Burman. "Namasté 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."
Gardner added, "Namasté recognizes that to become a global brand today requires expertise and resources in regions outside North America. The complementary nature of Dabur and Namasté will result in a more successful business with improved long-term growth potential."
