Honasa Consumer has acquired men’s personal care brand Reginald Men, along with its parent company BTM Ventures, at an enterprise valuation of Rs 195 crore
With this acquisition, the Gazal and Varun Alagh-led FMCG company, which has brands such as Mamaearth, Derma Co, Aqualogica, Bblunt, Dr Sheth’s, and Stazeis under its portfolio, is entering the men’s care segment.
In an exchange filing, Honasa Consumer stated that in the current transaction, the company is acquiring a 95 per cent stake in Reginald Men, with the remaining 5 per cent to be acquired after 12 months, based on pre-agreed valuation criteria.
“The men’s personal care category is evolving rapidly, and Reginald Men’s deep insight into this segment, especially its nuanced understanding of what today’s male consumers seek makes them a strong strategic fit for us.” Varun Alagh, Co-founder & CEO, Honasa Consumer said in a statement.
Reginald Men brand business
Founded by entrepreneur Trisha Reddy Talasani, Reginald Men is a premium men’s personal care brand, offering products such as sunscreen and serum. Honasa Consumer said in the exchange disclosure that in the past year, Reginald Men’s total revenue was about 70 crore with nearly 25 per cent EBITDA.
Honasa Consumer said that the acquisition marks a strategic expansion into the rapidly growing men’s personal care category and further strengthens Honasa’s presence in the South Indian market, where Reginald Men currently derives the majority of its revenue.
Honasa Consumer share price
Honasa Consumer’s stock closed at Rs 255, about 0.87 per cent lower in the intra-day trade. In the past one month, the FMCG company’s stock has lost 7.22 per cent of its value.
In the last 6 months, Honasa Consumer’s share price has declined by 19.44 per cent