Liquidity Events
VLCC to acquire D2C men's grooming brand Ustraa from Happily Unmarried
Beauty and skincare company VLCC is to acquire direct-to-consumer (D2C) men's grooming brand Ustraa - owned by Happily Unmarried Marketing - through a combination of secondary buy-out and share swap. Ustraa's existing Investors InfoEdge, 360 One (formerly IIFL Ventures) and Wipro will become shareholders in VLCC. Founded in 2015 by Rahul Anand and Rajat Tuli, Ustraa sells fragrances, hair care, face and beard care products and claims to have 2.2 million customers. Trilegal and KPMG advised VLCC on the acquisition. EY acted as exclusive financial advisor to Happily Unmarried and its investors. The acquisition marks VLCC's foray into specialised men's grooming and enhances new age digital commerce and product innovation capabilities for the platform. Ustraa founder Rahul Anand and Rajat Tuli will continue to spearhead the D2C brand's growth and drive VLCC's direct to consumer play. Post merger, VLCC will invest further to accelerate the growth of Ustraa.
From the Venture Intelligence PE-VC Deal Database: Between Jul-21 and Aug-22, Happily Unmarried had raised almost USD 9 M from Wipro Ventures,Info Edge and IIFL AMC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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