Mamaearth’s parent Honasa Consumer enters men’s personal care market with Reginald Men acquisition. Check details
Honasa Consumer, the parent company of personal care brand Mamaearth, has entered the men’s personal care market by acquiring BTM Ventures, the parent company of Reginald Men, the company said in an exchange filing on Thursday, December 11.
Founded in August 2022 by Trisha Reddy Talasani, Reginald Men deals in a variety of men’s products, including sunscreens and serums.
Honasa Consumer sells products through a portfolio of brands including Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr Sheth’s. ₹195 crore focusing on men’s personal care products like sunscreen and serum.
“Honasa Consumer Limited announces the acquisition of BTM Ventures Pvt Ltd, the parent company behind Reginald Men,” the exchange filing read.
He further added: “Honasa will acquire the 95% stake at enterprise value through a second acquisition. ₹195 crore, subject to closing adjustments. “The remaining 5% will be purchased after 12 months according to pre-agreed valuation criteria.”
Focus on South Indian market
The acquisition aims to expand into the fast-growing men’s personal care category and strengthens Honasa’s presence in the South Indian market, where Reginald Men currently derives most of its revenue.
With this addition, Honasa aims to help increase its market share in southern markets by leveraging comprehensive consumer analysis, established marketing strategies and the brand’s presence in the region.
Honasa Consumer co-founder on recent acquisition
Speaking on the acquisition of BTM Ventures, Varun Alagh, Co-Founder and CEO, Honasa Consumer Limited, said: “We are deeply inspired by what the Reginald Men team has built in such a short period of time.”
He added: “The men’s personal care category is rapidly evolving and Reginald Men’s deep insight into this segment, particularly their nuanced understanding of what today’s male consumers are looking for, makes them a strong strategic fit for us. This acquisition further strengthens our mission to shape the future of India’s beauty and personal care landscape.”
Views of BTM Ventures founder
Commenting on the acquisition by Honasa Consumer, Trisha Reddy Talasani, Founder of BTM Ventures Pvt Ltd said, “Joining hands with Honasa Consumer and its visionary founders Ghazal and Varun is a milestone for us. Our shared passion for innovation and commitment to excellence fosters a strong partnership and I am excited to collaboratively elevate our brand to new horizons.”
About Honasa Consumer
Honasa Consumer currently has a distribution network of 1,00,000+ FMCG retail outlets and covering 18,000+ pin codes across India. Its products are available to customers in more than 700 locations nationwide, according to exchange records.
