Emami to acquire 100% stake in 'The Man Company'
The completion of the acquisition of Helios by Emami will strengthen its presence in the fast growing digital-first premium male grooming segment.
FMCG player has entered into a binding agreement with Helios Lifestyle, the parent company of 'The Man Company', to acquire the remaining 49.60% stake for an undisclosed amount.
Prior to the acquisition, Emami held 50.40% stake in Helios Lifestyle since its investment in the company in 2017.
The completion of the acquisition of Helios by Emami will strengthen its presence in the fast growing digital first premium male grooming segment, the company said in a statement.
"We had adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalization to incubate new engines of growth. These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences," said Harsha V Agarwal, Vice Chairman & MD, Emami.
"We will continue to explore more such opportunities for strategic investment that have synergies with our existing line of businesses, added Agarwal.
Digital-first men-focused Beauty and Personal care brand 'The Man Company' sells men's grooming products in Skin Care, Hair Care, Body Care, and Beard Management category. The omni-channel retailer has its products available on its website, exclusive brand outlets, online marketplaces and general trade channels.
"As we took the brand to a new level over the last few years, we now expect it to continue its growth trajectory with Emami who has the ability to further accelerate the same and make ‘The Man Company’ one of the leading brands in the segment," said Hitesh Dhingra, Co-founder, Helios Lifestyle.