L&L Partners advised Honasa Consumer on a stake in Dr. Sheth’s skincare brand
The deal was valued at Rs.28 crores
Honasa Consumer Private Limited (HCPL) has acquired a majority shareholding of Fusion Cosmeceutics Private Limited of Dr. Sheth’s by way of primary and secondary transactions.
Post the transaction, HCPL will have a controlling stake in Dr. Sheth’s, which is a dermatologist formulated luxury skincare range. It is designed exclusively for Indian skin by three generations of skin doctors.
The deal represents a major milestone for HCPL as the cosmetics and skincare market in India is estimated to be valued at Rs.6,000 crore.
The acquisition is in line with HCPL’s strategy to create a house of brands. It will allow the company to fully leverage its competitive advantages of expertise and proficiency in digital marketing to accelerate Dr. Sheth’s growth.
HCPL is a major player in the consumer goods sector operating under the brand name ‘Mamaearth‘. Recently, it joined the ‘Unicorn’ club at a valuation of USD$ 1.07 billion. It also owns popular cosmetic product brands including The Derma Co and Aqualogica.
Law firm L&L Partners advised Honasa Consumer on the transaction deal. The team was led by Partner Nitin Gera and was supported by Senior Associate Shruti Barua and Associate Ayush Singh.
The firm’s due diligence team comprised Partner Nitin Gera, Senior Associate Shruti Barua, Associates Ayush Singh, and Ruthvik Tumuluri.