Hindustan Unilever Rumored to Acquire Minimalist
Hindustan Unilever is rumoured to be close to a deal to acquire Minimalist for around Rs 3,000 crore. The skincare brand is backed by Unilever Ventures and Sequoia Capital India, and founders Mohit and Rahul Yadav are expected to retain a stake in the company.
According to a report by Business Standard, people familiar with the matter said the two sides are in advanced talks and expect to seal a deal by the end of this quarter. The brand reported revenue of Rs 347.4 crore in FY2024, with profit after tax more than doubling to Rs 108 crore.
A HUL spokesperson told Business Standard, "As per our business strategy, we continuously evaluate various strategic opportunities for growth and expansion of our business. Whenever there is any material development that requires disclosure under applicable laws, we do so."
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