MUMBAI and new york, Feb 28: Marico Industries Ltd, one of India’s leading consumer products companies, announced on Wednesday that it had acquired a controlling equity interest in Sundari LLC, the owner of the Sundari line of ayurvedic skin care products. The transaction represents Marico’s acquisition in a developed country and its entry into the skin care product market.

“This transaction is a strategic milestone for Marico,” said Harsh C. Mariwala, Marico’s Chairman and Managing Director. “It allows us to increase our value-added presence with an established and recognized consumer brand which shares our philosophies and heritage.”

Sundari LLC will have its headquarters in the city of New York.

Marico is a leading Indian branded consumer goods (FMCG) Company, with 2001-02 turnover of about Rs7 billion ($142 million) from 10 brands— Parachute, Saffola, Sweekar, Hair & Care, Shanti, Mediker, Oil of Malabar, Mealmaker, Sil and Revive.