ITC Ltd to acquire personal care brand Mother Sparsh
Indian conglomerate ITC Ltd has signed an agreement to acquire the balance 73.5 percent stake in Mother Sparsh Baby Care Pvt Ltd, a premium ayurvedic and natural baby care brand.
As part of the deal, ITC will invest Rs 81 crore ($10 million) through combination of primary subscription and secondary share purchase to take its total investment in Mother Sparsh to Rs 126 crore.
In 2022, ITC acquired a 16 percent stake in Mother Sparsh for Rs 20 crore and later invested Rs 13.5 crore to increase its stake to 22 percent.
The acquisition is expected to be completed over a period of 2–3 years with Mother Sparsh team operating the business during this period.
Commenting on the acquisition, Himanshu, founder CEO of Mother Sparsh in a statement said, 'We are delighted that ITC, who came on board as an early investor, is now taking Mother Sparsh to the next level. We're confident that ITC's institutional strengths will help serve the evolving needs of Indian mothers for generations to come.'
Sameer Satpathy, divisional chief executive of personal care division at ITC Ltd added, 'This acquisition is an exciting opportunity, aligned with our aspiration to build a formidable portfolio of future ready, best-in-class innovative offerings that delights Indian consumers.'
Mother Sparsh offers a wide range of ayurvedic products across personal care, health and hygiene. It retails through its direct-to-consumer platform and e-commerce marketplaces.
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