Hindustan Unilever Limited (HUL) shares were in focus during the trading session on March 18, following the Competition Commission of India (CCI) approving its 90.5% stake acquisition in Uprising Science Pvt Ltd, the parent company of Minimalist. The deal is valued at ₹2,670 crore and aims to expand HUL’s Beauty & Wellbeing portfolio.
HUL’s stock saw an early gain of over 1% in today’s trade after closing 0.44% lower in the previous session on March 17. The CCI announced its approval of the acquisition through a post on X (formerly Twitter).
The deal will be done in two tranches. The first will be a sizeable infusion of capital, and the second will be a buyout at a pre-money enterprise value of ₹2,955 crore. Additionally, the remaining 9.5% stake in Minimalist will be bought by HUL within two years of deal completion.
HUL’s exchange filing pointed out that adding Minimalist to its Beauty & Wellbeing division is aligned with the company’s growth plan. Minimalist is expected to grow its retail footprint considerably, from its present 2,000 outlets to nearly 20,000 outlets over the next two years.
This strategic step strengthens the position of HUL in the fast-growing skincare and beauty business, giving it a stronger foothold in India’s premium dermatology-driven beauty space.
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Source: Moneycontrol.
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