Cipla Health to acquire Ivia Beaute's cosmetics, personal care distribution and marketing business for Rs 130 crore
Mumbai: Cipla Limited has announced that Cipla Health Limited, the wholly owned subsidiary and consumer healthcare arm of the Company, has signed a business transfer agreement (“BTA”) for purchase of the distribution and marketing business undertaking of cosmetics and personal care business (“Undertaking”) of Ivia Beaute Private Limited, India (“IVIA”) including IVIA’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis.
On the cost of acquisition, Cipla said it will be "Rs 130 crore on the closing date and Rs 110 crore contingent upon achievement of certain financial parameters (milestones) for next 3 years as mentioned in the BTA".
"This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio. Building on its strong presence through a cluster of brands in Tier 2-6 towns, CHL is strengthening its play in the fast-growing beauty and personal care sector catering to the aspirational consumer of India. The growing adoption of beauty and personal care products in Indian households signals a prominent trend, positioning the market as crucial for CHL’s expansion efforts," the release stated.
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