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CCI greenlights HUL's Rs 2,670 Cr. Minimalist buyout
The move significantly expands HUL's portfolio, which already boasts over 50 prominent brands, including Lakme, Lux, Knorr, Kwality Wall's, and Surf Excel.
HUL will also make a primary infusion of Rs 45 crore and plans to acquire the remaining 9.5% shareholding of Uprising Science in the coming two years.
FMCG giant Hindustan Unilever Ltd. (HUL) has announced plans to acquire a 90.5% stake in Jaipur-based Uprising Science Pvt. Ltd., the company behind the popular beauty and personal care brand 'Minimalist'. The Competition Commission of India (CCI) released details of the proposed transaction, revealing that HUL will eventually acquire the remaining 9.5% shareholding within two years of the deal's completion.
Uprising Science, operating under the Minimalist brand, specializes in manufacturing and selling beauty, personal care, baby care, and hair care products. According to the CCI release, the acquisition will be formalized through a share purchase and subscription agreement between HUL and Uprising Science.
The move significantly expands HUL's portfolio, which already boasts over 50 prominent brands, including Lakme, Lux, Knorr, Kwality Wall's, and Surf Excel. The acquisition highlights HUL's continued strategy of expanding its presence in the rapidly growing beauty and personal care segment, particularly within the direct-to-consumer (D2C) market.
The Competition Commission of India (CCI) has granted approval for Hindustan Unilever Ltd.'s (HUL) acquisition of Uprising Science Private Limited, the company behind the skincare brand Minimalist.
The approval follows HUL's January announcement of a share purchase and subscription agreement to acquire a 90.5% stake in Uprising Science. The deal involves a secondary buyout for a cash consideration of Rs 2,670 crore, valuing the company at a pre-money enterprise valuation of Rs 2,955 crore.
HUL will also make a primary infusion of Rs 45 crore and plans to acquire the remaining 9.5% shareholding of Uprising Science in the coming two years.
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