Reports are swirling that Hindustan Unilever is inching closer to acquiring Minimalist, a skincare brand and windfall of Unilever Ventures and Sequoia Capital India, for an estimated Rs3,000 crore. Despite this potential acquisition, founders Mohit and Rahul Yadav are anticipated to maintain a stake in the company.
A Business Standard article cites insiders suggesting that both parties are in late-stage negotiations, with an agreement anticipated before the current quarter concludes. It’s noteworthy that Minimalist achieved revenue figures of Rs347.4 crore for this fiscal year, with their profit-after-tax more than doubling to Rs10.8 crore.
Regarding on-going strategic considerations, a spokesperson from Hindustan Unilever shared with Business Standard, “We routinely assess various growth and expansion opportunities in alignment with our business strategy and will disclose pertinent information as per legal requirements.”