Cipla Limited on Thursday announced that Cipla Health Limited (CHL) has signed definitive agreements for the acquisition of Endura Mass. According to the company’s press statement, Endura and all other associated products would be part of the acquisition.
The company claims that this acquisition is in line with Cipla’s strategic imperative to augment the Company’s wellness portfolio for bringing about a shift from an illness to a wellness mindset.
“As per the signed definitive agreements, the acquisition is subject to the completion of certain closing conditions. CHL shall immediately initiate the distribution and marketing of the said products pending the closure of the proposed acquisition,” the company said in a statement on Thursday.
“With this strategic acquisition, we will be expanding our portfolio into a new category of weight gain, thereby catering to a very specific nutritional need for a set of our consumers. Being underweight is linked to multiple challenges such as poor stamina, poor concentration and low immunity. The addition of Endura & Endura mass to our portfolio perfectly complements our existing offerings across all key OTC/Wellness categories and would hence help us offer an even more comprehensive solution to all key consumer needs,” Shivam Puri, Chief Executive Officer of CHL stated on Thursday.
The company claims that it is well positioned to further build and develop the nutrition supplement category owing to its strong existing offline and online distribution muscle and a deep consumer in sighting engine which has already helped create over 12 strong brands within the portfolio through this acquisition.