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Emami Ltd eyes more acquisitions, increases stake in The Man Company to 100% | Mint

Livemint

Livemint · 11m ago

Emami Ltd eyes more acquisitions, increases stake in The Man Company to 100% | Mint

Emami Ltd, the Kolkata-based consumer goods maker, is open to further acquisitions in traditional businesses and direct-to-consumer (D2C) brands. The company recently acquired a male grooming company and has previously invested in various brands across different sectors. Emami aims to capitalize on online opportunities, incubate growth engines, and tap into emerging consumer segments. In addition to its existing investments, Emami is keen on exploring new-age categories where it currently does not have a presence. They are evaluating potential opportunities in both direct-to-consumer and heritage brands.

Related News

Exclusive: Emami set to acquire 100% stake in The Man Company

Entrackr

Entrackr · 1y ago

Exclusive: Emami set to acquire 100% stake in The Man Company

Fast moving consumer goods company Emami is set to acquire 100% stake in men’s grooming brand The Man company, two sources familiar with details told Entrackr. While the group has backed several companies in the direct to consumer segment, this would be the first complete acquisition by the group in the D2C space. “The acquisition was inevitable and a matter of time as Emami already has a controlling stake in The Man Company,” said one of the sources requesting anonymity. “The deal will be worth around Rs 400 crore.” Emami already owned a little over 50% in The Man Company as of July 2022. According to startup data intelligence platform TheKredible, co-founders Hitesh Dhingra, Parvesh Bareja, and Bhisam Bhateja collectively own around 35% of the company. Emami acquired a 33.09% stake in The Man Company across two tranches which materialized in December 2017 and February 2019. “The discussions are in the final stages, and if nothing goes wrong at the last moment, the transaction will be completed in a few weeks from now,” said the source quoted above. Queries sent to Emami and The Man Company didn’t elicit any immediate response. We will carry their comments in case they do. For the fiscal year ending March 2024, The Man Company posted a revenue of Rs 185 crore. As per the firm, 70% of its revenues came from e-commerce channels, including major marketplaces and its website. It claimed EBITDA level profitability with Rs 14 crore in FY24. It’s worth highlighting that the firm has raised only Rs 75 crore ($9 million) to date. The Gurugram-based firm majorly competes with Beardo which was acquired by Marico in July 2020 in around Rs 350 crore. Beardo is yet to disclose its FY24 numbers but it did more than Rs 100 crore revenue in FY23. Its other peer Ustraa also posted similar revenue in FY23.

Emami To Acquire The Man Company For INR 177 Cr

Inc42 · 12m ago

Emami To Acquire The Man Company For INR 177 Cr

Emami, a personal care and healthcare company, plans to acquire the remaining 49.6% stake in the direct-to-consumer startup, The Man Company. Emami already holds a 50.4% stake in the Delhi NCR-based company. The acquisition is priced at INR 177.6 Cr. The Man Company, founded in 2015, offers a variety of men's grooming products and had a turnover of INR 183 Cr in FY24, showing a YoY growth of 59%.

Emami acquires stake in Axiom Ayurveda, enters health juice segment

Livemint

Livemint · 1y ago

Emami acquires stake in Axiom Ayurveda, enters health juice segment

Emami Ltd. has entered the health juice category by acquiring a 26% stake in Axiom Ayurveda Pvt Ltd., the company behind the AloFrut brand. The deal size has not been disclosed. Emami sees potential in the health and wellness segment and aims to tap into it with AloFrut, a range of juices rich in vitamins, minerals, and essential amino acids. Emami will compete with Dabur Ltd. and PepsiCo India in the juice market. Emami's strategic investment aligns with their growth strategy of investing in brands with synergy and growth potential.

iBus eyes three acquisitions by September with $200 mn funding from NIIF

Livemint

Livemint · 1y ago

iBus eyes three acquisitions by September with $200 mn funding from NIIF

Digital infrastructure services provider iBus Network and Infrastructure Pvt Ltd plans to complete three acquisitions by September. The company recently received a $200 million investment from the National Investment and Infrastructure Fund (NIIF), which now holds a controlling stake. iBus Network aims to allocate about half of the investment towards acquisitions in its core sectors such as in-building solutions, outdoor small cells, and managed Wi-Fi services. The company, backed by Morgan Stanley Infrastructure Partners, has been acquiring companies in the passive telecom infrastructure sector and plans to expand its presence internationally.

ACC completes acquisition of Asian Concretes and Cements

Livemint

Livemint · 1y ago

ACC completes acquisition of Asian Concretes and Cements

ACC Ltd, a subsidiary of Ambuja Cement Ltd owned by Adani, has acquired the remaining 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) for ₹425.96 crore ($57 million). The acquisition was funded internally and brings ACC's ownership of ACCPL to 100%. This acquisition raises ACC's total cement production capacity to 38.55 MTPA and increases the Adani Group's overall capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26. ACCPL operates a cement plant in Himachal Pradesh and a subsidiary in Punjab.

N. Srinivasan sells his stake in ICL to UltraTech, cements his gritty legacy | Mint

Livemint

Livemint · 1y ago

N. Srinivasan sells his stake in ICL to UltraTech, cements his gritty legacy | Mint

N. Srinivasan, the vice-chairman of India Cements Ltd, has sold the promoters' stake in the company to UltraTech Cement Ltd for ₹3,955 crore. This move marks the end of an era in the cement industry and concludes Srinivasan's successful tenure as a cricket administrator and businessman. Over the years, Srinivasan was involved in legal battles, acquisitions, and expansions to grow ICL's cement capacity. However, he faced challenges due to a fractured market and inefficient production methods. Nevertheless, he played a significant role in holding the cement industry together in the south and negotiating wage settlements with trade unions.

Temasek-backed Country Delight eyes new PE funding

VCCircle

VCCircle · 1y ago

Temasek-backed Country Delight eyes new PE funding

Temasek-backed direct-to-consumer food brand, Country Delight, is seeking new funding, potentially in the form of its Series F financing. The Gurugram-based company, Beejapuri Dairy Pvt Ltd, plans to raise $75 million to $100 million in this round.

TPG eyes stake in VLCC; NTPC Green taps four bankers for IPO

VCCircle

VCCircle · 1y ago

TPG eyes stake in VLCC; NTPC Green taps four bankers for IPO

Carlyle Group is reportedly in talks with TPG Growth to sell a 25-30% stake in VLCC Healthcare Ltd. The discussions come after Carlyle's acquisition of the wellness company last year. VLCC's shares have surged by 78% in the past year, prompting Carlyle to consider the stake sale.

Puravankara eyes up to ₹2,000 cr capex, PE backing to become a ‘national player’

Livemint

Livemint · 8m ago

Puravankara eyes up to ₹2,000 cr capex, PE backing to become a ‘national player’

Bengaluru-based real estate company Puravankara Ltd plans to allocate up to ₹2,000 crore for land acquisitions over the next year as part of its strategy to become a national brand. The company intends to triple its land bank over the next three years. It is currently in advanced talks with private equity investors and is accessing multiple routes of investment to fund these acquisitions. Puravankara is also looking to enter the Delhi-NCR market in the future and is evaluating opportunities there. The company's revenue grew by 36% year-on-year to ₹520 crore.

VC-backed Redcliffe Labs eyes second acquisition of the year

VCCircle

VCCircle · 11m ago

VC-backed Redcliffe Labs eyes second acquisition of the year

Indian healthtech platform Redcliffe Labs, which operates diagnostic centres under the Redcliffe Labs brand, is planning its second acquisition in the diagnostics space. The firm is aiming to acquire Bengaluru-based Celara Diagnostics to expand its presence in the southern market. Redcliffe is likely to purchase a controlling stake in Celara for around INR 50-60 crore ($7-8 million). This acquisition aligns with Redcliffe Labs' strategy to improve cash flow and profitability through a series of acquisitions. Redcliffe currently operates 80 labs and plans to grow its network to 100 labs by the end of FY25.

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