FMCG major Godrej Consumer Products Ltd (GCPL) has acquired grooming brand Muuchstac in a Rs 450-crore deal. According to the terms of the sale, the promoters of Muuchstac will continue to run the business.
Sudhir Sitapati, GCPL Managing Director and CEO, wrote in a LinkedIn post: “On 10 November 2025, we bought out Muuchstac in a 450 crore deal, at an attractive valuation for Godrej Consumer Products Limited, which also offered Vishal and Ronak a greater than 15,000x return. Vishal and Ronak will continue to run this business with GCPL supporting them.”
Last month, GCPL had announced the signing of a definitive agreement to acquire the FMCG business of Triology Solutions, operating primarily in the male grooming category with ‘Muuchstac’ brand via slump sale to “drive profitable growth”.
What Attracted GCPL to Mucchstac
Muuchstac was founded in 2017 by two Bhayander-based boys, Vishal Lohia and Ronak Bagadia. Sitapati said their effort in scaling the business to Rs 10 crore by 2023 had been stupendous.
“After the first Rs 3 lakh that they put in during 2017-18, they haven’t lost money in a single year. Their total capital outlay in this company has been Rs 3 lakh,” he said, adding “everything else has been funded by operational profit.”
“The business, expected to hit a revenue of Rs 80 crore in a few months, was indeed smaller than what strategics usually like. But a number that stood out was the EBITDA of Rs 30 crore. Intrigued, we dug a bit deeper,” he stated.
According to Sitapati, one of their SKUs, Muuchstac Face Wash, has been getting strong consumer traction. “When the founders realised this, they figured that the product had clicked with consumers and they pivoted their entire effort to this one SKU,” he said, adding that the same face wash now accounts for 90 per cent of Muuchstac’s revenue.
The face wash has now pivoted to become the number 2 player in men’s face washes online and even offline, it is at the number 3 player position.
For now, Muuchstac works on a micro-influencer marketing model, without any TV advertising or performance marketing. Even within the influencer model, they don’t promote posts and rely solely on organic content.
Doubling Down on Plans to Expand Through D2C Acquisitions
GCPL, which is increasing its investment in high-margin categories, is looking for more new-age D2C businesses as Muuchstac.
“If anyone else knows of a new-age D2C business with numbers as good as this one, please write a comment or DM me,” Sitapati wrote.
