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Honasa Consumer acquires Reginald Men
Mamaearth-parent company Honasa Consumer has acquired men’s grooming brand Reginald Men, along with its parent company BTM Ventures, at an enterprise valuation of Rs 195 crore. The Gazal and Varun Alagh-led company already houses leading brands such as Mamaearth, Derma Co, Aqualogica, Bblunt, Dr Sheth’s, and Stazeis under its portfolio.
All about Honasa Consumer's ₹195 Cr deal
With the new acquisition, the FMCG company is entering the men’s personal care industry.
In an exchange filing, Honasa Consumer disclosed that in the current transaction, the company is acquiring a 95 per cent stake in Reginald Men, with the remaining 5 per cent to be acquired after 12 months, based on pre-agreed valuation criteria.
“The men’s personal care category is evolving rapidly, and Reginald Men’s deep insight into this segment, especially its nuanced understanding of what today’s male consumers seek makes them a strong strategic fit for us.” Varun Alagh, Co-founder & CEO, Honasa Consumer, said.
He further shared being inspired by what the Reginald Men team has built in such a short span of time.
“Their sharp understanding of the modern male consumer, combined with their ability to quickly translate ideas into action, aligns perfectly with Honasa’s long-term vision,” Varun said. “The men’s personal care category is evolving rapidly, and Reginald Men’s nuanced insight into what today’s male consumers seek makes them a strong strategic fit for us,” he added.
Founded by entrepreneur Trisha Reddy Talasani, Reginald Men is a premium men’s personal care brand, with products including sunscreen and serum.
With a strong presence in the South Indian market, Honasa Consumer said in the exchange disclosure that in the past year, Reginald Men’s total revenue was about 70 crore with nearly 25 per cent EBITDA.
The company’s stock closed at Rs 255, about 0.87 per cent lower in the intra-day trade.
In the past month, the Gazal and Varun Alagh-led company’s stock has lost 7.22 per cent of its value. However, the company’s share price has declined by 19.44 per cent in the last 6 months.