Leading consumer goods company Bajaj Corp Limited (BCL) has announced that it has signed definitive agreement with Ozone Ayurvedics (“ OA ”) to acquire entire intangible assets, including the trademarks, of NOMARKS brand for an undisclosed amount. OA is a proprietorship company owned by S.C. Sehgal.
Commenting on the acquisition, Kushagra Nayan Bajaj , Chairman, BCL , said: “The acquisition of the NOMARKS brand by Bajaj Corp is a strategic move as it enhances our presence in the personal care market and gives us an entry in to the skin care category . It widens the Company’s position in the personal care sector as Bajaj Almond Drop Hair Oil is already the third largest brand in the overall hair oil category. NOMARKS brand gives us an opportunity to play in an additional Rs 8500 crore Personal Care space besides the Rs 5222 crore non coconut hair oil market where we are market leaders in the Light Hair Oil Segment with 57 .4% volume market share . We see a great future for the NOMARKS brand which was the pioneer of the anti-marks category in India. The anti-marks segment of skin care is one of the fastest growing and NOMARKS offers huge opportunity in the anti-blemish as well as several face care problem solution offerings that are growth segments world over. Our investment strategy for NOMARKS will be similar to that employed by us for our lead brand Bajaj Almond Drops Hair Oil. The objective will remain to build a large consumer franchise for the brand through availability and communication.”
S. C. Sehgal, Sole Proprietor, Ozone Ayurvedics, added:“Ozone Ayurvedics has taken a strategic decision to transfer the NOMARKS brand to Bajaj Corp. Ozone will continue to focus upon its mother businesses under the Ozone equity. I see this as a win-win for both Bajaj Corp and Ozone Ayurvedics. After twelve years of having launched NOMARKS as the first Anti Marks / Anti Blemish cream in India, in fact having created the category, we believe that it will be a pleasure to see the brand to grow to its full potential given the resources of the Bajaj Group. I am happy that NOMARKS will be safe and prosperous in the hands of the Bajaj family which has agreat lineage amongst the industrial empires of India. Given the Excellent Corporate Governance and Great performance I am sure the Brand will grow exponentially in the hands of Bajaj C orp Ltd. I am glad we will still be associated with the brand as both Ozone and Bajaj have agreed by way of a transition management support on the manufacturing side. In any case I will always be available for Bajaj management whenever they would like to seek my inputs on this category which I have been very passionate about.”