HUL completes acquisition of female hygiene brand VWash from Glenmark
Leading FMCG player Hindustan Unilever (HUL) on Friday said it has completed the acquisition of VWash from pharma major Glenmark Pharmaceuticals.
The company, however, did not disclose the value of the transaction.
The acquisition was announced in March and was subject to certain closing conditions, which have now been fulfilled, the FMCG firm said in a filing to BSE.
Pic Credits: Official website
VWash was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene category backed by strong product proposition, consumer endorsements and brand building investments.
HUL has acquired intellectual property rights including trademarks, design and knowhow related to the VWash brand worldwide, the company said.
"VWash acquisition is strategic and gives us an entry into rapidly growing female intimate hygiene segment. It enables us to serve consumer needs through scientific solutions. This acquisition is also timely given heightened focus on health and hygiene," HUL Chairman and Managing Director Sanjiv Mehta said.
With this acquisition, HUL is looking to scale up the brand by building awareness, driving penetration, leveraging distributio,n and enhance offering for chemist channel.
The shares of HUL were trading at Rs 2,149 apiece on BSE, down 1.15 percent from their previous close.
In another initiative, HUL on Thursday said it will remove the word 'Fair' from its popular skincare brand 'Fair & Lovely', as part of a global rebranding exercise by its parent Unilever.
While the move has come at a time when there are growing voices against racial stereotyping, the company insisted that its step has got nothing to do with the current anti-racism movements in the West, saying it has been working on the evolution of the Rs 2,000-crore brand for many years.
The company said its other skincare portfolio will also adopt a new holistic vision towards the beauty that cares for everyone and celebrates all skin colours.
This, the FMCG major said, that it follows parent Unilever's policy for all its beauty and personal care brands, which will evolve "to a more inclusive vision of beauty that celebrates and cares for all skin tones, and no longer uses the words white/whitening, light/lightening or fair/fairness".