Genomma Lab Buying More Brands

Mexico-based drug and personal hygiene company Genomma Lab says it is acquiring 5 more brands for about MXP1.0bn ($85m). The company says it will use cash and long-term financing to cover the deal, adding that it is currently in negotiations with banks whose names it does not disclose. The brands, which together had sales of MXP514.1m in 2009, are shampoo and conditioner Vanart, Galaflex and Sante, hair dye Affair and skin cream Pomada de la Campana. Acquisitive Genomma has purchased 14 brands in the past 16 months. A company shareholder who was involved in the transaction says the deal was privately negotiated. The identity of the vendor was not disclosed.