Hindustan Unilever in talks to acquire Peak XV-backed Minimalist for up to $350M [TechCrunch]
Unilever PLC (UL)
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Source: TechCrunch
An acquisition would add to the Unilever subsidiary's buying spree in India, where it expanded into the health and wellbeing category by acquiring Oziva and Wellbeing Nutrition a year ago. “In line with our business strategy, on an ongoing basis, we evaluate various strategic opportunities for the growth and expansion of our business,” a Hindustan Unilever spokesperson told TechCrunch in a statement. An acquisition will also broaden the skincare portfolio of Unilever's Indian subsidiary, with a market cap of over $65 billion. HUL operates brands including Dove, Pond's, Lakme, Sunsilk, Lux and Lifebuoy. The talks are ongoing, but a deal is yet to be finalized, the people cautioned, requesting anonymity as the deliberations are private. In the second half of last year, Minimalist attempted to field interest from venture capital firms to secure capital at about $300 million valuation, according to newspaper Mint. Jaipur-based Minimalist operates a skincare brand, selling a wid
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- 12/9/24 - Form 6-K
- 12/2/24 - Form 6-K
- UL's page on the SEC website