Mumbai: Cosmetics and consumer goods company Marico Ltd has acquired the consumer division of South Africa''s Enaleni Pharmaceuticals Ltd for about Rs52 crore.

Marico said it plans to finance the deal through a US dollar-denominated term loan.

The deal, clinched through a bidding process, marks Marico''s entry into the South African haircare market, India''s top hair-oil maker said in a statement.

"It helps us extend the Marico footprint to a new geography with potential, thus taking us a step further towards becoming a global player in beauty and wellness," chairman Harish Mariwala said.

Marico manufactures and markets the Parachute, Nihar hair-oil brands and the Saffola edible-oil label in India.

Enaleni would use the money from the sale to reduce debt and fund pharmaceutical growth, the South African company said in a separate statement.

Enaleni had, in June, said it planned to exit the consumer and vitality business to focus on pharmaceuticals.

Enaleni''s consumer goods division includes manufacturing facilities at Mobeni, Durban and a 100-member team, Marico said.

The unit makes hair relaxers, after-care hair food and hair conditioners, and annualised revenue was about Rs53 crore, Marico said, adding, the market for hair care products in South Africa is estimated to be in the region of Rs600 crore and growing at more than 20 per cent annually.

In 2006, Marico acquired Egyptian haircare brands, HairCode and Fiancee. Marico currently has more than half the Rs170 crore pre- and post-wash hair care segment in Egypt.