Honasa Consumer Ltd has announced that it will acquire BTM Ventures to enter India’s fast growing men’s personal care segment. At present, Honasa owns FMCG brands Mamaearth and The Derma Co.
Founded by Trisha Reddy Talasani in August 2022, BTM Ventures owns ‘Reginald Men’ and is valued at Rs 195 crore. The brand offers a curated range of men’s products, across personal care, especially sunscreen and serum and is rapidly gaining ground in South India — a market Honasa will tap into more effectively with the acquisition.
In the past year, the brand has done over Rs 70 crore top line with nearly 25 per cent EBITDA, according to a joint statement.
In a statement, Honasa Consumer Co-founder & CEO Varun Alagh said the acquisition of BTM Ventures strengthens the company in India’s beauty and personal care landscape.
“As part of the transaction, Honasa will acquire a 95 per cent stake via a secondary purchase at an enterprise value of Rs 195 crore, subject to closing adjustments. The remaining 5 per cent to be acquired after 12 months based on pre-agreed valuation criteria,” he stated.
“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,” he further said, adding, “The brand also adds strength in categories like sunscreen and serums, which are focus categories for Honasa Consumer.”
