Kolkata, May 7 (PTI) FMCG major Emami Ltd on Thursday said it will acquire a 60 per cent stake in Hyderabad-based IncNut Digital Pvt Ltd for a consideration of Rs 321 crore to strengthen its presence in the beauty and personal care segment.
The transaction includes performance-linked adjustments over 24 months, the Kolkata-based company said in a statement.
“Emami has entered into a definitive agreement to acquire a 60 per cent stake in IncNut Digital Pvt Ltd along with its subsidiaries and associates. The transaction (is) valued at Rs 321…,” it said.
The company will acquire the remaining stake in IncNut, the parent company of personalised beauty and skincare brands Vedix and SkinKraft, over the next four-and-a-half years in two tranches, with the consideration to be determined based on future performance parameters, it said.
IncNut offers customised haircare and skincare solutions through data-driven diagnostics and personalised formulations.
“This investment represents a strategic step in strengthening our presence in the high-growth beauty and personal care segment,” Emami vice chairman and managing director Harsha Vardhan Agarwal said.
He said the acquisition would strengthen the company’s portfolio across Ayurveda and dermatology-led personal care offerings.
IncNut Founder and CEO Chaitanya Nallan said the partnership would help accelerate innovation and expand the reach of the brands. PTI BSM BDC
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