M&A

M&A

D2C unicorn Mamaearth buys BBlunt's products and salon biz from Godrej for Rs.84.5-Cr

BSE Release,   Economic Times  

Gurugram-based direct-to-consumer (D2C) unicorn Mamaearth has acquired the entire stake of publicly listed Godrej Consumer Products Ltd (GCPL) in Mumbai-based Bhabani Blunt Hair Dressing Pvt Ltd, and the right to use the BBlunt brand name, for INR 84.5 crore. BBlunt's product portfolio includes shampoos, conditioners, women's styling products, men's styling products, and hair extensions. GCPL will receive INR 25.7 crore for its stake in the company and INR 58.8 crore from brand rights. BBlunt's hair care and styling products business will be completely owned and managed by Mamaearth parent Honasa Consumer, while the salon business will continue to operate as an independent entity. From the founding team, Adhuna Bhabani, Osh Bhabani and Avan Contractor will be creative directors and Spoorthy Shetty will be the CEO. GCPL held about 30% in BBlunt from when it first invested in the firm in 2013, while the founding team and other investors held the rest.

From the Venture Intelligence PE-VC Deal Database: Between Nov-16 and Dec-21, Mamaearth raised over USD 110 million from Sharrp Ventures, Fireside Ventures, Stellaris Venture Partners, Sequoia Capital India, Sofina and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)