Dabur India is in advanced talks to buy Turkish personal care products maker Hobi Kozmetik, a newspaper daily reported on Thursday.
The company has been in talks with several overseas companies but Hobi Kozmetik is the front-runner, the newspaper reported citing an anonymous official.
“Yes, we are close to finalizing an acquisition overseas. But we are talking to more than one company and I cannot divulge any name,” the newspaper quoted Mohit Burman, director, Dabur India, as saying.
Hobi Kozmetik makes shampoos, hairstyling, haircare, skincare and bath and shower products for women, men and children under the brand names Hobby and New Era, the report said.
The firm has operations in more than 30 countries with annual revenue of about Rs 100 crore, the report said citing an unnamed official.
A Dabur India official could not be reached for a comment by Reuters immediately.
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