Liquidity Events
Marico to acquire 60% in D2C personal care brand Just Herbs
Mumbai-based, publicly-listed FMCG company Marico Ltd is to acquire a 60% stake in Mohali, Punjab-based Apcos Naturals Pvt Ltd, which owns the D2C “ Just Herbs†brand, via a purchase of equity shares and compulsorily convertible preference shares (CCPS). Veda Corporate Advisors was the exclusive advisor to Just Herbs and its shareholders. Marico will acquire 52.4% of the total paid-up share capital of Just Herbs by July 31, 2021, and the balance 7.6% by March 31, 2023. Just Herbs, which operates in the beauty and personal care vertical, is expected to help Marico enter the premium, natural and ayurvedic beauty segment. It had posted a turnover of INR 17.5 crore for FY21.
From the Venture Intelligence PE-VC Deal Database: In Aug-19, Just Herbs raised $1.5 M from Roots Ventures and others.
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