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Marico Industries Buys

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By: TOM BRANNA

Editor

Ayurvedic skin care brand Sundari was sold to Marico Industries Ltd., Mum-bai, India, a $142 million conglomerate that chiefly produces oils for consumer and personal care products. The purchase price was not disclosed. The acquisition gives Marico a 70.5% equity stake in Sundari, with 29.5% share remaining in the hands of the founders and their private backers, according to a statement. Several Sundari officers have announced they will remain with the company for an undisclosed amount of time...

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