HUL acquires over 90% stake in premium skincare brand Minimalist for ₹2,955 crore | Company Business News

Hindustan Unilever Limited (HUL) on Wednesday, January 22, announced the acquisition of online premium skincare brand Minimalist for ₹2,955 crore, according to an exchange filing.

The fast-moving consumer goods (FMCG) giant has signed the agreement to acquire 90.5 per cent shareholding, as per the BSE filing. This move from the FMCG giant will add Minimalist to the company’s Beauty & Wellbeing portfolio as it branches out to high-demand sectors. 

According to the deal details, HUL will purchase the stake in Minimalist via a main infusion and secondary buyout at the pre-money enterprise value of ₹2,955 crore.

“We are delighted to welcome Minimalist into the HUL family. This acquisition is another key step to grow our Beauty & Wellbeing portfolio in high-growth premium demand spaces. Mohit, Rahul and the team have created a great brand built on science, product efficacy and transparency,” said Rohit Jawa, chief executive officer and managing director of HUL, in the official statement. 

HUL Q3 results

Hindustan Unilever’s net profit for the quarter ended December 31, 2024, rose 19 per cent year-on-year to ₹2,984 crore, compared to ₹2,984 crore in the same quarter a year ago.

The consolidated total income rose 1.7 per cent to ₹16,050 crore, compared year-on-year (YoY) with ₹15,781 crore a year ago. The company’s home care division witnessed a 6 per cent rise in sales driven by high-single-digit growth in volume for both fabric wash and household care. 

The beauty and wellbeing segment witnessed a 1 per cent growth for the October to December quarter, as per the exchange filing, reported Mint earlier.

The company also approved the demerger of Kwality Wall’s, an ice cream company, on January 22.

Hindustan Unilever Ltd shares closed 0.11 per cent higher at ₹2,342.95 after Wednesday’s trading session, compared to ₹2,340.40 at the previous market close.

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