The acquisition signals HUL’s expansion in the premium skincare & baby care market.
Hindustan Unilever Ltd (HUL) has sought Competition Commission of India’s (CCI) nod for acquisition of 90.5 per cent stake in Uprising Science Private Ltd, which is the firm behind skin care brand ‘Minimalist’.
The M&A deal is for a consideration of 26,7 billion rupees ($308 million). Uprising is a fast-growing player in the skincare and baby care segment.
The remaining 9.5 per cent stake in Uprising Science will be acquired within two years, making Uprising Science a wholly owned subsidiary of the FMCG giant.
The acquisition proposal has been formally submitted to the CCI under Section 6(2) of the Competition Act, 2002, seeking regulatory approval for the transaction.
With a portfolio of over 50 household brands, including Lakmé, Dove, Ponds, and Vaseline, HUL has long dominated the beauty and personal care segment.
The latest acquisition underscores the company’s aggressive push into premium and specialised skincare, baby care, and haircare, areas where Uprising Science has carved a niche.
Uprising Science, known for its science-driven formulations and focus on natural ingredients, is seen as a strategic fit for HUL’s expansion plans in the high-growth premium skincare and baby care markets.
This deal follows a series of recent acquisitions in India’s fast-moving consumer goods (FMCG) sector, as multinational giants race to consolidate their market positions in high-growth categories. With rising disposable incomes and increasing demand for premium personal care products, the sector has witnessed a surge in M&A activity, positioning this acquisition as a major shake-up in the competitive landscape.
Pending CCI’s approval, HUL is expected to complete the first phase of the transaction soon, with full ownership expected within two years.
Market watchers believe this deal could spark further consolidation in the beauty and personal care industry, pushing other FMCG players to strengthen their foothold in the premium segment.
Source: The Hindu Business Line