Sara Lee Corporation has terminated Godrej Household Product’s (GHPL), a 100% subsidiary of Godrej Consumer Products license for Kiwi (shoe care) and Kiwi Kleen brands in India and Sri Lanka with effect from April 3, 2011. Consequently, Sara Lee will pay a consideration of Rs 177 crore to Godrej Household Product.
Godrej Consumer Products (GCPL) is a flagship company of Godrej Group. The company is major player in FMCG market. It has three manufacturing units located at Malanpur (M.P) Guwahati (Assam) and Baddi (H.P).
On consolidated basis, the group has posted a net profit of Rs 118.82 crore for the December 2010 quarter as compared to Rs 85.12 crore for the December 2009 quarter, up 39.59%. Total income for the quarter grew by 86.64% to Rs 986.68 crore from Rs 528.64 crore for the corresponding quarter of the previous fiscal.
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