Liquidity Events
HUL to acquire 91% stake in skincare brand Minimalist for Rs.2,715-Cr
BSE Announcement Economic Times
FMCG player Hindustan Unilever (HUL) has acquired 90.5% stake in Jaipur-based direct-to-consumer (D2C) skincare startup Minimalist for INR 2,670 crore in cash, along with a primary infusion of INR 45 crore. The acquisition was done at an enterprise valuation of INR 2,955 crore. The remaining 9.5% stake will be acquired from its founders Rahul Yadav and Mohit Yadav, within two years. Until then, the existing team will continue to operate the business in collaboration with HUL.Founded in 2020, Minimalist offers 20 plus products including serums, toners, face acids and moisturisers in skincare, haircare and body care segments.
Between Sep-19 and July-21, Minimalist had raised about USD 17 M from Peak XV Partners and Unilever Ventures.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
