M&A
D-Mart promoter buys out personal care retail chain Health & Glow for Rs.750-Cr: report
Radhakishan Damani, founder of publicly listed Avenue Supermarts that runs the D-Mart retail chain, has acquired a controlling stake in Health and Glow, a Bengaluru-headquartered beauty and personal care retail chain from the family offices of Rajan Raheja and Hemendra Kothari, for INR 700-750 crore. The transaction was done via Damani's investment vehicle, Bright Star Investments. Health and Glow sells over 10,000 products from 800+ domestic and global brands in skincare, haircare and health & wellness segments. Among the earliest specialised beauty and personal care retailers, the 26-year old chain was originally a joint venture between Spencer Retail and Hong Kong-based Dairy Farm. In 2015-16, the Rajan Raheja and Hemendra Kothari families had bought out the Health and Glow chain from the original promoters.
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