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HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation

EntrackrEntrackr · 1y ago
HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation
Medial

HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, has acquired the homegrown skincare brand Minimalist at a pre-money valuation of Rs 2,955 crore (nearly $350 million). The board at HUL has entered into the Share purchase agreement for the acquisition of 90.5% of Minimalist shares at a cash consideration of Rs 2,670 crore (secondary buyout) along with Rs 45 crore as a primary infusion in the company. The transaction is expected to be completed in Q1 of FY 2026 and the remaining 9.5% shareholding of Uprising in about two years from the completion date, the filing sourced from NSE added. This is one of the largest deals in the direct-to-consumer (D2C) space in recent years. Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand offering products such as serums, toners, and moisturizers. The sale of these products was the sole source of revenue for the brand in the last fiscal year. The founder duo will continue to lead the company for next two years. Minimalist's revenue surged to Rs 347 crore in FY24 from Rs 184 crore in FY23. Despite higher marketing costs, profits doubled to Rs 10.83 crore in FY24. According to the company, the business has rapidly scaled to cross an annual revenue runrate (ARR) of Rs 500 crore in a short span of four years. Minimalist has raised $17 million, including a Series A round led by Peak XV, which holds a 27.9% stake. Co-founders Mohit and Rahul Yadav control 62% of the company.

Hindustan Unilever acquires remaining 49% stake in OZiva for Rs 824 Cr

EntrackrEntrackr · 11d ago
Hindustan Unilever acquires remaining 49% stake in OZiva for Rs 824 Cr
Medial

Hindustan Unilever acquires remaining 49% stake in OZiva for Rs 824 Cr Mumbai-based FMCG major Hindustan Unilever Limited has completed the acquisition of the remaining 49% stake in OZiva, operated through Zywie Ventures Private Limited, for a total consideration of Rs 824 crore. The transaction makes OZiva a wholly owned subsidiary of HUL. The deal shows a sharp jump in OZiva’s valuation. In December 2022, HUL had acquired a 51% stake in OZiva for a cash consideration of Rs 264.28 crore, which implied a valuation of around Rs 518 crore at the time. The latest transaction values the company at nearly Rs 1,682 crore and represents a more than threefold increase over a little more than three years. Founded in 2019, the six-year-old direct-to-consumer firm sells plant-based nutrition products across health, skin, hair, and general wellness categories. Prior to the HUL transaction, OZiva had raised around $17 million from investors such as Matrix Partners, Eight Road Ventures, and Stride Ventures. The company also reported a sharp improvement in operating performance. Its revenue from operations jumped 148% to Rs 258 crore in FY25 from Rs 104 crore in FY24 while losses declined 90% to Rs 4.5 crore in FY25 compared to Rs 43.5 crore in the previous fiscal. The deal follows a series of acquisitions in India’s D2C space this year. On Thursday, pharmaceutical major USV acquired a 79% stake in Wellbeing Nutrition. Earlier this month, Mumbai-based consumer goods major Marico acquired a 60% stake in plant-based protein startup Cosmix at an equity valuation of Rs 375 crore. The trend builds on last year’s consolidation, which included HUL’s acquisition of skincare brand Minimalist at a pre-money valuation of Rs 2,955 crore.

Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr

EntrackrEntrackr · 1y ago
Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr
Medial

Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand offering products such as serums, toners, and moisturizers. Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, is reportedly in advanced discussions to acquire a majority stake in the skincare startup Minimalist for approximately Rs 3,000 crore (more than $350 million). Moneycontrol, which reported the development first, said that it would also be one of the largest deals in the direct-to-consumer (D2C) space in recent years. Minimalist retails through its own website as well as third-party e-commerce platforms like Amazon, Nykaa, and Flipkart, among others. In response to queries from Entrackr, an HUL spokesperson said, “In line with our business strategy, on an ongoing basis, we evaluate various strategic opportunities for the growth and expansion of our business. We will make appropriate disclosures whenever there is any material development that requires disclosure under applicable laws.” Queries sent to Minimalist did not receive an immediate response. Minimalist’s revenue from operations surged to Rs 347 crore in FY24, up from Rs 184 crore in FY23. Despite increasing marketing costs, the company’s profits jumped two-fold to Rs 10.83 crore in the last fiscal year. Minimalist has raised around $17 million to date, including its Series A round led by Peak XV (formerly Sequoia Capital), which holds a 27.9% stake as the largest external shareholder. Its co-founders, Mohit and Rahul Yadav, together control 62% of the company, as per TheKredible. In December 2022, HUL acquired a 51% stake in D2C brand Oziva for a cash consideration of Rs 264.28 crore.

HUL-owned Minimalist revenue spikes 48% to Rs 515 Cr in FY25

EntrackrEntrackr · 13d ago
HUL-owned Minimalist revenue spikes 48% to Rs 515 Cr in FY25
Medial

HUL-owned D2C brand Minimalist reported a 48% year-on-year rise in operating revenue to cross Rs 500 crore in FY25, but posted a loss due to exceptional items worth Rs 46 crore. Hindustan Unilever Limited (HUL)-owned D2C brand Minimalist continues to grow at a strong pace, as operating revenue rose 48% year on year to cross the Rs 500 crore threshold in the fiscal year ended March 2025. However, the Jaipur-based company reported a loss in the last fiscal year due to exceptional items worth Rs 46 crore. Minimalist’s revenue from operations spiked to Rs 514.8 crore in FY25, from Rs 347.4 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Founded in 2020 by Mohit Yadav and Rahul Yadav, Minimalist is a skin and hair care brand that offers products such as serums, toners, and moisturizers. It retails through its own website, as well as third-party e-commerce platforms like Amazon, Nykaa, and Flipkart, among others. Sales of these products were the sole source of the brand’s revenue in FY25. The company also earned Rs 2.84 crore from non-operating sources, which took its overall income to Rs 517.6 crore in FY25. For the D2C brand, Minimalist continued to spend heavily on advertising and promotion, which accounted for over 30% of its total expenses and stood at Rs 154 crore in FY25. This cost increased 28% compared to FY24. In line with its revenue growth, the cost of materials consumed rose 57% to Rs 146.7 crore in FY25 from Rs 93.7 crore in FY24. Distribution costs, primarily commissions to marketplaces, stood at Rs 84.3 crore, while employee benefits expenses increased 29% to Rs 36.8 crore. Other overheads, including rent, transportation, legal and professional fees, and warehousing costs, added another Rs 82 crore. This pushed the company’s overall expenses to Rs 504 crore in the fiscal year ended March 2025 from Rs 333.2 crore in FY24, a 51% year-on-year increase. In the end, the company’s EBITDA remained positive at Rs 18 crore as both expenses and revenue grew at nearly the same pace. However, Minimalist reported a net loss of Rs 31.5 crore in the previous fiscal year due to one-time exceptional expenses of Rs 46 crore, for which details were not disclosed in the financial statements. Its ROCE and EBITDA margin stood at Rs 10.55% and 3.45%, respectively. On a unit basis, Minimalist spent Rs 0.98 to earn a rupee of operating revenue in FY25. As of March 2025, the firm had current assets of Rs 229 crore which includes Rs 48 crore in cash and bank balances. In January 2025, fast-moving consumer goods major Hindustan Unilever Limited (HUL) acquired a 90.5% stake in Minimalist at a pre-money valuation of Rs 2,955 crore (nearly $350 million). This deal ranks among the largest transactions in the direct-to-consumer (D2C) space in recent years. The transaction is expected to be completed in Q1 FY26. Prior to the acquisition, Minimalist had raised $17 million, including a $15 million Series A round led by Peak XV, which holds a 27.9% stake. Co-founders Mohit and Rahul Yadav control 62% of the company.

Marico acquires 60% stake in D2C nutrition startup Cosmix

EntrackrEntrackr · 20d ago
Marico acquires 60% stake in D2C nutrition startup Cosmix
Medial

Marico acquires 60% stake in D2C nutrition startup Cosmix Mumbai-based multinational consumer goods company Marico has acquired a 60% majority stake in Cosmix, a startup that sells plant-based protein supplements, at an equity valuation of Rs 375 crore. With this deal, Marico expands its D2C presence by adding another brand. The acquisition brings a protein-focused brand into Marico’s D2C portfolio. Founded in 2019, Cosmix operates as a digital-first nutrition brand with a focus on plant-based protein and wellness products. The startup sells primarily through its own website and online marketplaces. Cosmix has remained profitable since inception and reported revenue of around Rs 50 crore in FY25, compared to Rs 24 crore in FY24. According to the company, it has scaled to an ARR of Rs 100 crore. Marico has been actively acquiring and scaling D2C brands over the past few years. In 2017, it acquired men’s grooming brand Beardo. As per TheKredible, Beardo’s revenue crossed Rs 200 crore in FY25, while its profit increased 3.6 times on a year-on-year basis. Apart from Beardo, Marico’s D2C portfolio includes brands such as Plix, True Elements, and Just Herbs. The development follows a similar move in the FMCG sector, where Hindustan Unilever Limited (HUL) acquired homegrown skincare brand Minimalist last year at a pre-money valuation of Rs 2,955 crore.

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