New Delhi, Dec 7 (PTI) Homegrown FMCG major Emami todayannounced to acquire 30 per cent stake in Helios Lifestyle,which owns male grooming brand 'The Man Company'.
The stake will be acquired by December 31, 2018 throughinfusion of required funds in Helios, the Kolkata-basedcompany said in a statement.
The size of the deal was however not disclosed.
"The acquisition of stake by Emami is significant as itmarks the companyÂ’s entry in the fast growing online malegrooming segment," it said.
Emami is present in the male grooming segment through itsbrands Fair and Handsome and HE.
"Rapidly growing male grooming portfolio supported bydigital marketing & online sales is an emerging growth segmentin the FMCG space," said Emami Director Harsha V Agarwal.
The Man Company offers premium men's grooming products inBath & Body, Beard management, Shaving & Perfumes category andare sold online majorly through the company's own website –www.themancompany.com.
"Emami not only has very deep industry experience, butalso believes in our vision to make The Man Company a globalbrand," said Rohit Chawla, co-founder, Helios Lifestyle. PTIKRH PRJANU.
This is unedited, unformatted feed from the Press Trust of India wire.