Personal care brand Mamaearth's parent company, Honasa Consumer, has entered the men's personal care market with the acquisition of Reginald Men parent BTM Ventures, the company said in an exchange filing on Thursday, December 11.
Founded in August 2022 by Trisha Reddy Talasani, Reginald Men deals in a range of men’s products, including sunscreens and serums.
Honasa Consumer, which sells products through a portfolio of brands including Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt, and Dr Sheth's, has acquired a 95% stake for ₹195 crore, focusing on men's personal care products such as sunscreen and serum.
“Honasa Consumer Limited has announced the acquisition of BTM Ventures Pvt Ltd, the parent company behind Reginald Men,” the exchange filing read.
It further added, “Honasa will acquire a 95% stake via a secondary purchase at an enterprise value of ₹195 crore, subject to closing adjustments. The remaining 5% to be acquired after 12 months based on pre-agreed valuation criteria.”
Focus on the South Indian market
The acquisition aims to expand into the rapidly growing men’s personal care category and seeks to strengthen Honasa’s presence in the South Indian market, where Reginald Men currently derives most of its revenue.
By this addition, Honasa aims to benefit from comprehensive consumer insights, established marketing strategies, and the brand's presence in the region, helping to boost its market share in southern markets.
Honasa Consumer co-founder on latest acqusition
Speaking on the acquisition of BTM Ventures, Varun Alagh, Co-founder & CEO, Honasa Consumer Limited, said, “We are deeply inspired by what the Reginald Men team has built in such a short span of time."
He added, "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. This acquisition further strengthens our mission of shaping the future of India’s beauty and personal care landscape.”
BTM Ventures founder's views
On the acquisition by Honasa Consumer, Trisha Reddy Talasani, Founder, BTM Ventures Pvt Ltd, said, “Joining hands with Honasa Consumer and its visionary founders, Ghazal and Varun, is a landmark moment for us. Our shared passion for innovation and commitment to excellence forge a strong partnership, and I am excited to collaboratively elevate our brand to new horizons.”
About Honasa Consumer
Honasa Consumer currently has over 1,00,000 FMCG retail outlets and a distribution network covering more than 18,000 pin codes across India. Its products are available to customers in over 700 districts across the country, according to its exchange filing.
