Ananta Capital acquires 55% stake in personal care brand Anveya Living
The acquisition of the majority stake in Anveya Living is part of Ananta Capital's beauty and personal care arm Guardian Group’s broader approach to creating a house of brands.
Ananta Capital on Tuesday acquired a 55% stake in Living for an undisclosed amount. The company, offering skincare and haircare solutions, houses D2C brands including Anveya, , , and others.
The VC firm acquired the majority stake in Anveya Living through its beauty and personal care focused arm, Guardian Group. The deal comprised both primary and secondary transactions.
The acquisition involved institutional investor Rokum Capital and all angel investors associated with Anveya Living exiting the company. Founders Singh and Patnaik also diluted their stake.
Pursuant to the transactions, Anveya Living's Board will consist of five members, three of whom will be nominated from Ananta Capital, while Anveya founders Vivek Singh and Saurav Patnaik will claim the other two seats.
“We will continue to explore further acquisitions in the beauty and wellness categories and build them under a unified balance sheet to drive maximum synergies," said Ashutosh Taparia and Sanjeev Taparia, Board Members of Guardian Group and Ananta Capital.
The company will use the fresh capital towards developing new products across hair and skincare offerings as well as for global expansion.
Through the transaction, Anveya brands would be integrated with the beauty and wellness brands of Guardian, further increasing its operating leverage and allowing Anveya access to Guardian's distribution network both online and offline, within and outside India.
Mumbai-based Ananta Capital has made significant investments in beauty and personal care brands including Bellavita, Bevzilla, BetterAlt etc, housed under Guardian Group. The group also has the India master franchise of GNC business, a global nutritional supplement player and Guardian Pharmacy.
KPMG Corporate Finance acted as the exclusive financial advisor to ThriveCo and its promoters for the transaction.
Edited by Kanishk Singh