Raymond Ltd. announced on Thursday the demerger of its lifestyle business to Raymond Consumer Care Ltd, which plans to list separately and focus on becoming pure play business-to-consumer lifestyle business that would enable it to attain the net debt free status.
Consequent upon sale of the FMCG business, the company said the promoter would deploy the entire proceeds of this transaction into the lifestyle business.
Post the demerger, Raymond and Raymond Lifestyle Business will be the two listed entities of the group.
The brands that Godrej Consumer would be acquiring from Raymond Consumer are: Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale. KamaSutra, Park Avenue – Godrej Consumer To Buy FMCG Brands From Raymond for Rs 2,825 Crore.
Chennai, April 27: Selling its fast moving consumer goods (FMCG) business, and demerging of Raymond Ltd s lifestyle business to Raymond Consumer Care Ltd while retaining real estate business and investments in engineering and denim are the rejig actions announced by Raymond Group to have two debt free listed companies.