Namaste Labs Enters Into Definitive Agreement With Dabur

BLUE ISLAND, Ill., Nov. 15, 2010 /PRNewswire/ -- Namaste Laboratories, LLC ("Namaste"), the maker of Organic Root Stimulator®, today announced that it has entered into a definitive agreement to be acquired by Dabur India Ltd ("Dabur") through its U.S.-based wholly-owned subsidiary Dermoviva Skin Essentials Inc. The transaction is subject to customary conditions including regulatory reviews and approvals and is expected to close by the end of the 2010 calendar year.

The current management team, led by Namaste founder and CEO Gary Gardner, will continue to run the operations of the Namaste business. The sales team, including broker representatives, will remain in place, and existing relationships with retailers, wholesalers, distributors and suppliers will not change.  Namaste will continue to operate in its current facility in Blue Island, IL, with business as usual and without interruption.

Mr. Gary Gardner, the founder and CEO of Namaste said, "In Dabur, Namaste has found a strategic partner that can help accomplish its goal of becoming the hair care brand of choice for people of African descent worldwide. This partnership offers synergy in mission, as both companies focus on healthful, holistic offerings, and in market platforms with Namaste's stronghold in the U.S. and Dabur's strengths outside North America. We know our employees, customers, distributors and retailers will benefit from this great growth opportunity."

Dabur is a leading consumer goods company with 125 years of experience in healthcare, hair care, oral care and skin care on many continents, particularly Asia and Africa. Dabur, with a substantial presence and infrastructure in Africa, offers Namaste the opportunity to work together to offer high quality, natural-based products to consumers of color worldwide.

"This acquisition is in line with our strategy to build a global presence in the international consumer goods market," said Dabur India Ltd. Chairman Dr. Anand Burman. "Namaste has a complementary product mix that can be easily integrated with Dabur and will also serve as a gateway to the U.S. market for our portfolio of consumer products. This transaction will also enhance our profitability, increase stakeholder value and substantially add to Dabur's already strong presence in Africa, serving as one of the key pillars in strengthening our position in the African continent."

"Due to the increasingly global nature of the marketplace, Namaste recognizes that to become a global brand today requires expertise and resources in regions outside North America," Mr. Gardner continued. "The complementary nature of Dabur and Namaste will result in a more successful business with improved long-term growth potential."

Namaste and its team remain committed to its channel members, its sales force, its employees and, as always, its consumers, and look forward to leading the way in providing high quality offerings for the unmet needs of men and women of color throughout the world.

"I'm pleased that there will be no change in employment at Namaste and in fact, Dabur believes the current management team is an essential part of the formula to help drive the growth plans of the company," Mr. Gardner concluded. "We believe this partnership will thrive because the two companies complement each other so well and because there is a mutual respect for each other's strengths."

The transaction is subject to customary conditions including regulatory reviews and approvals and is expected to close by the end of the 2010 calendar year.

Houlihan Lokey served as a financial advisor to Namaste.

About Namaste Laboratories

Namaste Laboratories, the makers of Organic Root Stimulator® founded in 1996 by Gary E. Gardner, is a Chicago-based personal care products company that addresses the needs of health-conscious consumers by using natural ingredients to address major hair concerns such as hair loss, damaged hair, thinning and dry, itchy scalp. Scientific research and herbal remedies have helped Namaste take the lead in the natural, therapeutic health and beauty aids industry. The company is dedicated to identifying innovative remedies for healing and renewing the hair, skin and body. More information can be found at www.organicrootstimulator.com.

About Dabur

Dabur India Limited is one of India's leading FMCG Companies. Building on a legacy of quality and experience for 125 years, Dabur is today India's most trusted name and the world's largest Ayurvedic and Natural Health Care Company. Dabur India's FMCG portfolio today includes five flagship brands with distinct brand identities -- Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Real for fruit-based beverages, and Fem for skin care.

SOURCE Namaste Laboratories, LLC