Marico buys South Africa’s haircare brand Isoplus

India-based beauty group Marico has purchased South African hair styling brand Isoplus from JM Products for R75m ($5.75m) through its subsidiary.

The deal is expected to support and complete Marico’s ethnic haircare and styling portfolio. Isoplus has a value market share of 27% in the segment, with oil sheens and styling gels as its flagship products.

In addition to Isoplus’ business, Marico South Africa has acquired its entire associated intellectual property rights, manufacturing facilities, and working capital.

Marico CEO and managing director Saugata Gupta said: “This bolt-on acquisition plugs a critical gap in Marico’s portfolio in the ethnic haircare space in South Africa.

“Isoplus has a strong consumer franchise and I am confident that the team will leverage its strengths and expertise to further grow the business.”

Founded in 1995, JM Products is an African-American haircare firm with key operations in the South African styling sector. Last year, the firm reported a sales turnover of R62m ($4.75m).

Marico currently offers services across aftercare maintenance, chemical treatments, and hair colour sectors in the country through brands such as Caivil, Black Chic, Just for Kids, Hercules, and Medi-Pac.

By leveraging Isoplus’ sales and marketing expertise, the firm intends to further strengthen its position in hair styling.

The acquisition is expected to be completed by Q3 of the next fiscal year.