Latest news with #UprisingScience
Fashion Network
23-04-2025
- Business
- Fashion Network
Hindustan Unilever completes acquisition of 90.5 percent stake in Minimalist for Rs 2,706 crore
FMCG major Hindustan Unilever Limited (HUL) has completed the acquisition of a 90.5 percent stake in Uprising Science, parent company of personal care brand Minimalist for Rs 2,706 crore ($318 million). Last month, the Competition Commission of India (CCI) had approved HUL's proposal to acquire a majority stake in the brand. 'The company has completed the acquisition of 90.5 percent shareholding of Uprising through a combination of primary infusion and secondary acquisition for a total cash consideration of Rs 2,706 crore in accordance with the terms and conditions of the SPSA,' HUL said in a regulatory filing. 'With this, Uprising Science and its subsidiaries have now become subsidiaries of HUL,' it added. HUL plans to acquire the remaining 9.5 percent stake in the business from its founding brothers Mohit and Rahul Yadav in the coming two years. Founded in 2018, Minimalist offers skincare, haircare, and body care products. It retails through its e-commerce website, online marketplaces, Nykaa 's offline stores, general beauty trade outlets, and independent pharmacy stores.
Business Standard
22-04-2025
- Business
- Business Standard
HUL gains on acquiring 90.5% stake in Uprising Science for Rs 2,706 crore
Hindustan Unilever (HUL) added 1.41% to Rs 2,383.10 after the FMCG major announced the completion of its acquisition of a 90.5% stake in Uprising Science, the parent company of the skincare brand Minimalist, for Rs 2,706.44 crore. The deal was executed through a combination of primary infusion and secondary share purchase, it added. The acquisition follows the terms outlined in the share purchase and subscription agreement (SPSA). Hindustan Unilever is in the FMCG business, comprising primarily of home care, beauty & personal care, and food & refreshment segments. The company has manufacturing facilities across the country and sells primarily in India. The companys standalone net profit was at Rs 3,001 crore in Q3 FY25, compared with Rs 2,519 crore in the corresponding quarter last year. Revenue from operations rose 1.79% to Rs 15,195 crore in Q3 FY25 as compared with Rs 14,928 crore in Q3 FY24.
Time of India
22-04-2025
- Business
- Time of India
HUL acquires majority stake in Minimalist parent co Uprising Science for Rs 2,706 crore
Hindustan Unilever Limited (HUL), one of India's leading FMCG companies, announced on Monday the successful completion of its acquisition of a 90.5 per cent stake in Uprising Science at Rs 2,706.44 crore. The acquisition was carried out through a combination of primary infusion and secondary share purchase, culminating in a total cash consideration of Rs 2,706,44,95,728, the company said in an exchange filing. The transaction was made in accordance with the terms laid out in the Share Purchase and Subscription Agreement (SPSA), the company further said. The FMCG major had sought clearance from Competition Commission of India to acquire the beauty and personal care brand in January 2025. "The acquirer (HUL) proposes to acquire 90.5 per cent shareholding of the target (Uprising Science Pvt Ltd), with eventual acquisition of the remaining 9.5 per cent shareholding of the target in about two years from the completion date as per the terms set out in the share purchase & subscription agreement executed by and between the parties," a notice filed with the fair trade regulator CCI had said on January 29. Jaipur-based Uprising Science is engaged in the manufacturing and sale of beauty and personal care products, baby care and hair care items under the brand name 'Minimalist'. While both companies operate in overlapping segments, the transaction is unlikely to alter competitive dynamics significantly, HUL had earlier said. The companies have identified key markets relevant to the deal, including the manufacturing and sale of beauty and personal care, skincare, and haircare products in India, said an ET report.
