Fast-moving consumer goods maker Dabur India on Tuesday said it is in talks with Ajanta Pharma to acquire the latter's energising capsule brand, '30-Plus'.
"Though the company is in discussions with Ajanta Pharma on the matter, nothing has been finalised yet," Dabur India said in a statement to the Bombay Stock Exchange.
Ajanta Pharma, however, said on the BSE: "... It does not comment on market speculation." The firm makes products in the areas of anti-malaria, cardiology, dermatology, gastroenterology, musculoskeletal and ophthalmology.
Dabur has been maintaining that it is scouting for potential targets in the personal and healthcare segments to make acquisitions both in the domestic and overseas markets.
"We are flexible in the terms of the size of our acquisitions. The range could be between Rs 50 crore and Rs 500 crore. It could be even above this depending upon the brand and the company," Dabur India Chief Executive Officer Sunil Duggal had said in March.
In January this year, the company had acquired US-based personal care firm Namaste Group for USD 100 million (about Rs 451 crore) and in September last year it had completed acquisition of Turkish personal care firm Hobi Kozmetik Group for USD 69 million (about Rs 324 crore).
In India, the company has successfully acquired Balsara Hygiene and Home Products and Fem Care Pharma.
Dabur, however, did not provide further details on its discussions with Ajanta for 30-Plus, which was launched in 1990 and has been positioned as an energising capsule for men over 30 years of age.
Bollywood actor Jeetendra was the brand ambassador for the product.
While Dabur's scrip was down 0.35% at Rs 100.85 per share toward the end of the day's trading on the BSE, Ajanta Pharma's shares were trading at Rs 259.20 apiece, up 3.16%.