Top FMCG player Hindustan Unilever Limited (HUL) will be acquiring 90.5% stake in premium beauty brand Minimalist at a pre-money enterprise value of Rs 2,955 crore. The balance 9.5% will be acquired from the founders of Minimalist in two years.
The transaction is expected to be completed in the first quarter of FY2026.
HUL announced on Wednesday that it has signed a definitive agreement to acquire Minimalist. This marks another step in the transformation journey of its Beauty & Wellbeing portfolio towards evolving and higher growth demand spaces, the company said.
The business has scaled to cross an annual revenue runrate (ARR) of Rs 500 crore in 4 years. The Yadavs will continue to run the business for the next two years.
Minimalist will join the portfolio of brands in HUL’s Beauty & Wellbeing division led by Harman Dhillon, Executive Director, Beauty & Wellbeing, HUL. This segment reported a 1% growth in Q3FY25 while the Underlying Volume Growth (UVG) witnessed a low-single digit decline.
“We are excited to partner with the Minimalist team to unlock value through synergies and together, scale the brand to greater heights by leveraging our complementary capabilities,” said Ritesh Tiwari, Executive Director, Finance & IT and CFO, HUL.
Mohit Yadav and Rahul Yadav said, “With HUL’s robust offline distribution network, we look forward to making our products even more accessible across the country.”
On Wednesday, the HUL board also approved the demerger of Kwality Wall's, an ice cream company. Following this, the resultant company will be listed on both the BSE and the NSE. As per the demerger rule, each HUL shareholder would get one Kwality Wall's share for each HUL share they currently own.
The board has also approved the acquisition of the palm undertaking of Vishwatej Oil Industries Private Limited, as a part of HUL’s Palm localisation strategy. The palm undertaking is based in the Kamareddy district of Telangana.