Indian firm buys 85 pct of consumer goods maker
Print 
India’s Marico has bought an 85 percent stake in consumer goods maker International Consumer Products Corp for an undisclosed sum.
ICP, founded in 2001, make personal care products, cosmetics, and sauces/condiments categories under the X-man, L’Ovite, and Thuan Phat brands.
Lat year it achieved a turnover of more than US$25 million.
The Mumbai-based Marico is one of India’s leading makers of fast-moving consumer goods, making health and beauty products and others. It has a presence in 25 countries and an annual turnover of $600 million.
ICP founder Phan Quoc Cong, who holds the remaining 15 percent, will remain as the CEO
