Connect with us

Health

Cipla to purchase Ivia Beaute’s cosmetics, personal care distribution and marketing business for Rs 130 crore, reports ET HealthWorld

Published

on

Cipla to acquire Ivia Beaute's cosmetics, personal care distribution and marketing biz for Rs 130 cr, ET HealthWorld

In a recent development, Pharma major Cipla Ltd has made a significant acquisition in the cosmetics and personal care sector. The company will acquire the distribution and marketing business of Ivia Beaute Pvt Ltd, including popular brands Astaberry, Ikin, and Bhimsaini, on a worldwide basis for Rs 130 crore. This strategic move is in line with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio.

The acquisition will include the transfer of Ivia Beaute’s brands Astaberry, Ikin, and Bhimsaini, with an initial payment of Rs 130 crore on the closing date and an additional Rs 110 crore contingent upon achieving certain financial milestones over the next 3 years as per the Business Transfer Agreement (BTA). The transaction is expected to be completed within 60 days from the signing of the BTA, subject to the fulfillment of specified conditions.

CHL CEO and Whole Time Director Shivam Puri expressed that this acquisition strengthens Cipla’s presence in the beauty and personal care sector, especially in Tier 2-6 cities. The integration of Astaberry, Ikin, and Bhimsaini into their portfolio will complement their existing offerings in key OTC/consumer healthcare categories, providing comprehensive solutions to meet consumer needs.

With a brand legacy of over 16 years, Astaberry offers a wide range of unique skincare products to consumers. The transfer of the ‘undertaking’ is subject to the completion of specific conditions mentioned in the agreement, after which CHL will initiate the distribution and marketing of the products. This move signifies a strategic expansion for Cipla in the consumer healthcare and wellness segment.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Trending