Hindustan Unilever plans to acquire Jaipur-based company for Rs 3000 crore; the company is…, it manufactures…
GH News January 07, 2025 08:07 PM
FMCG major Hindustan Unilever Limited (HUL) may acquire Jaipur-based skin care startup-Minimalist. According to media reports the HUL may seal the deal for Rs 3000 crore. Peak XV Partners is the promoter of Minimalist.
After the deal the valuation of Minimalist will increase from Rs 630 crore to Rs 3000 crore. The company’s valuation will increase due to revenue and stable profit profile.
If the deal happens it would be the biggest buy and sell among the direct to consumer (D2C) product segment. In 2024 Minimalist’s revenue was Rs 350 crore and as it was Rs 184 crore in 2023. It shows that the company’s revenue has gone up by 89% from 2023 to 2024.
The profit of Minimalist had also increased from Rs 5 crore to Rs 11 crore in 2024. As per the data Minimalist has been in profit for the last few years. However founders of Minimalist Mohit Yadav and Rahul Yadav have not commented yet over the deal.
On the other hand the company’s spokesperson said they evaluate strategic opportunities for the expansion and development of their business from time to time and whenever it is applicable the company will disclose it.
This deal is going to take place at a time where the big names are associating themselves with new start ups. It gives an advantage to the big groups to sell their products to the youths while the new companies get the access networks of FMCGs and witness growth at a fast pace.
Such practice is not only being done by HUL but other FMCG companies like Dabur Marico and ITC are associating themselves with Beardo Plix and Yoga Bar to enhance their digital space.