Highlights
Hindustan Unilever Limited Acquires Minimalist
Hindustan Unilever Limited (HUL), a leading player in the fast-moving consumer goods sector, has successfully acquired the domestic skincare brand Minimalist at a pre-money valuation of Rs 2,955 crore (approximately $350 million).
The board of HUL has finalised a share purchase agreement to acquire 90.5% of Minimalist shares for a cash consideration of Rs 2,670 crore, representing a secondary buyout. In addition, Rs 45 crore will be invested as a primary infusion into the company.
The closure of this transaction is anticipated in the first quarter of FY 2026, with the remaining 9.5% shareholding expected to be acquired within two years of the initial completion date, according to filings received from the NSE.
This acquisition marks one of the largest transactions in the direct-to-consumer (D2C) market in recent years.
About Minimalist
Founded by entrepreneurial duo Mohit and Rahul Yadav, Minimalist is a skincare and haircare brand that provides a range of products, including:
- Serums
- Toners
- Moisturisers
In the last fiscal year, the sales of these products constituted the primary revenue stream for the brand. The founding partners will remain at the helm of the company for the next two years.
Financial Growth
In FY24, Minimalist’s revenue experienced impressive growth, reaching Rs 347 crore, up from Rs 184 crore in FY23. Despite rising marketing expenses, profits saw a remarkable increase, doubling to Rs 10.83 crore in FY24. The company reports that it has swiftly scaled its operations to achieve an annual revenue run rate (ARR) of Rs 500 crore within a mere four-year timeframe.
Investment and Stake Distribution
Minimalist has successfully raised $17 million, which includes a Series A funding round led by Peak XV, which holds a 27.9% stake in the company. Co-founders Mohit and Rahul Yadav maintain a controlling interest of 62%. Notably, the company’s valuation stood at Rs 565 crore (about $65 million).
