M&A

M&A

Thrasio-style startup GlobalBees buys 3 brands - Butternut Company, Mush, Strauss

Mint  

GlobalBees Brands Pvt Ltd, which aggregates and invests in e-commerce brands, has acquired three more direct-to-consumer (D2C) brands. The Thrasio-style venture, backed by PremjiInvest and Japan's SoftBank, has bought stakes in The Butternut Company, Mush, and Strauss. The Butternut Company was founded in 2016 by Ankita M Kukreja, Sahil Kukreja, and Suhail Pansare, and offers nut butters, chocolate spreads, and healthy-snack foods. The brand focuses on plant protein and heart-healthy fats suitable for people of all ages. Strauss, also launched in 2016 by Deepak Sachdeva, offers over 25 sports and fitness equipment products and claims to have ranked number one on e-commerce websites Amazon and Walmart-owned Flipkart. Mush sells eco-friendly bamboo textile bath towels, and face towels. Founded by Ayush Agarwal and Nihar Gosalia in 2018, the brand has expanded to more than 50 stock keeping units. GlobalBees had acquired five D2C brands last November.