M&A

M&A

Cipla to acquire Ivia Beaute's personal care biz for Rs.130-Cr

News18.com   Astaberry  

Listed pharma firm Cipla Ltd, through its wholly owned subsidiary Cipla Health Ltd (CHL), will acquire the cosmetics and personal care distribution and marketing business of Delhi-headquartered Ivia Beaute Pvt Ltd, including the latter’s brands Astaberry , Ikin and Bhimsaini, on a worldwide basis for INR 130 crore.Besides, Cipla will pay INR 110 crore via milestone linked payments over the next three years.Ivia Beaute Pvt Ltd is a venture from the house Bhimsaini, a player in the ‘kajal’ industry. A manufacturer marketer of ayurvedic skincare, healthcare & eyecare products since 1950 servicing Indian as well as global markets.