The deal gives Unilever’s Indian unit a stronger foothold in the premium beauty segment, adding to its portfolio of brands like Dove, Pond’s, and Lakmé. Minimalist, known for its actives-led skincare products, reported annual revenue run rate of over ₹5 billion and has been profitable since inception.

FMCG major Hindustan Unilever Limited has acquired 90.5 percent stake in skincare startup for Rs 2,955 crore in an all cash deal, the company said while announcing its quarterly results on January 22. The deal, one of the largest in the direct to consumer (D2C) space, will close by the end of the June quarter of 2025.

Unilever’s India unit is acquiring Indian premium beauty brand Minimalist. Hindustan Unilever (HUL) announced it will take a 90.5% stake in the company for a value of 29.55bn rupees (US$342.3m), including debt. HUL also said that within two years Minimalist would be owned wholly by them.

ET first reported on January 3 that the deal was in the works. Founders Mohit and Rahul will continue to lead the business for two years.

India's leading FMCG giant Hindustan Unilever (HUL) has announced the acquisition of a 90.5% stake in Jaipur-based direct-to-consumer (D2C) beauty brand Minimalist. The deal values the company at a pre-money enterprise value of ₹2,955 crore.

Hindustan Unilever Ltd announced the acquisition of premium skincare brand Minimalist for ₹2,955 crore on Wednesday, January 22. HUL’s beauty and wellbeing segment, which it aims to boost with the Minimalist acquisition,