The Kolkata-based FMCG company announced the acquisition of the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand ‘The Man Company’, for a consideration of Rs 177.63 crore.
Emami said that it has entered into a binding agreement with Helios to acquire 100% ownership by acquiring the balance 49.60% stake. The company already owns a 50.40% stake in Helios. After acquiring the remaining stake, Helios will become a wholly owned subsidiary of the company.
Helios manufactures and sells male grooming products under the brand name The Man Company. It offers a head to toe range of grooming products for men which includes beard products, skin & hair care products, deodorant & perfumes, etc. It reported a turnover of Rs 183 crore in FY24.
This company added that this acquisition will strengthen its presence in the fast growing digital first premium male grooming segment.
The firm will acquire 1,33,572 equity shares, i.e. 49.60% stake, for a consideration of Rs 177.63 crore, The acquisition is expected to be completed in three months.
Harsha V Agarwal, vice chairman & MD, Emami, said, We had adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalization to incubate new engines of growth. These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences. We will continue to explore more such opportunities for strategic investment that have synergies with our existing line of businesses.
Emami is one of Indias leading FMCG companies engaged in manufacturing & marketing of personal care & healthcare products. With over 450 diverse products, Emamis portfolio includes trusted power brands like Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King.
The companys consolidated net profit gained 10.8% to Rs 152.64 crore in Q1 FY25 as against Rs 137.72 crore posted in Q1 FY24. Revenue from operations was at Rs 906.07 crore in Q1 FY25, up 9.7% year on year.
Shares of Emami added 0.01% to settle at Rs 813.25 on Friday, 30 August 2024.
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First Published: Aug 31 2024 | 3:03 PM IST
