Mamaearthin emoyhtiö Honasa peruu Fluence Pharman yritysoston
Honasa Consumer, Mamaearth-brändin takana oleva yhtiö, on perunut suunnitellun 135 miljoonan euron yritysoston Fluence Pharmasta ehtojen täyttymättä jäämisen vuoksi.
Beauty and personal care (BPC) major Honasa Consumer, the parent company behind the Mamaearth brand, has called off its planned acquisition of a 58% stake in nutraceuticals startup Fluence Pharma for ₹135 crore. The company cited the non-fulfillment of closing conditions stipulated in the share purchase agreement.
Honasa Consumer announced the decision in an exchange filing, stating that the acquisition could not proceed due to unmet conditions. Specific details regarding which conditions were not fulfilled were not disclosed.
The proposed deal, initially approved by Honasa's board in June, aimed to integrate Fluence Pharma's patented cyclical nutrition therapy and its network of dermatologists with Honasa's established consumer brands, distribution, and marketing expertise. Fluence Pharma specializes in skin and hair health supplements sold through over 3,000 dermatologists and trichologists.
Despite this setback, Honasa stated its continued commitment to its nutraceuticals strategy. The company plans to explore further organic and inorganic opportunities within the category, viewing nutraceuticals as a key growth area with an estimated market size of ₹16,000 crore in India. Honasa had also established a subsidiary, Honasa Health, to manage its nutraceuticals business.
This acquisition was part of Honasa's broader "Honasa 3.0" strategy, which aims to significantly increase revenue and improve profitability by FY31. The company has a history of strategic acquisitions, including Dr. Sheth’s, BBlunt, and Reginald Men, to diversify its brand portfolio.