L&L acts on Mamaearth's acquisition of a majority stake in Dr. Sheth's skincare brand

Honasa Consumer Private Limited (HCPL) has acquired a majority shareholding of Dr. Sheth's Fusion Cosmeceutics Private Limited by way of primary and secondary transactions. The deal is reported to be valued at $28 crore.

L&L Partners recently advised Honasa Consumer on the deal.

The transaction team was led by Partner Nitin Gera and was supported by Senior Associate Shruti Barua and Associate Ayush Singh.

The due diligence team comprised Partner Nitin Gera, Senior Associate Shruti Barua, Associates Ayush Singh and Ruthvik Tumuluri.

Post this transaction, HCPL will have a controlling stake in Dr. Sheth’s. This deal represents a major milestone for HCPL as the cosmetics and skincare market in India is estimated to be valued at ₹6,000 crore. Further, this acquisition is in line with HCPL’s strategy to create a house of brands. It will allow HCPL to fully leverage its competitive advantages of expertise and proficiency in digital marketing to accelerate the growth and scale of Dr. Sheth’s.

HCPL is a major player in the consumer goods sector operating under the brand name ‘Mamaearth’ and has recently joined the ‘Unicorn’ club at a valuation of USD$ 1.07 billion. HCPL also owns other popular cosmetic product brands like The Derma Co. and Aqualogica.

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