FMCG major Emami to acquire remaining 49.6% stake in ‘The Man Company’
Emami on Saturday announced the acquisition of the remaining 49.6 per cent stake in Helios Lifestyle. Photo: Facebook
Home-grown FMCG major Emami on Saturday announced the acquisition of the remaining 49.6 per cent stake in Helios Lifestyle, which owns male grooming brand The Man Company’.
Helios Lifestyle is already a subsidiary of Emami with 50.4 per cent shareholding, according to a statement from Emami.
“The completion of the acquisition of Helios by Emami will strengthen its presence in the fast-growing digital-first premium male grooming segment,” it said.
Emami had previously acquired 33.09 per cent equity stake in Helios in two tranches — one in December 2017 and the other in February 2019. Later, it increased the stake to 50.4 per cent in 2022.
The Man Company, a digital-first lifestyle brand, offers premium men’s grooming products in categories including fragrances, skin care, hair care, body care and beard management.
“The segment offers huge potential for innovation & growth. Emami is already an active player in the male grooming segment through its brand Fair and Handsome,” the statement said.
According to the Kolkata-headquartered company, Indian male grooming products are rapidly gaining traction, driving impressive market growth.
“We are happy to have not only invested in The Man Company’ as we could foresee its huge potential but equally impressed and happy with the promoter’s vision and commitment towards making it a formidable brand. With the completion of the 100 per cent acquisition of the company, we are excited to take the brand to its next level of growth, it said.
Earlier this month, Emami Chairman R S Goenka in the AGM of the company had said it will keep exploring opportunities for inorganic and strategic growth to enter new product categories.
Emami, which has acquired AloFrut, Creme21 and Zandu in the past, will continue to explore such growth opportunities, allowing it to enter a new segment and expand its play area.
In its latest annual report, Emami said that 45 per cent of its topline in FY24 came from acquired brands, and the proportion of revenues coming from non-rural geographies has increased.
Emami, which owns brands Navratna, Boroplus, Zandu, Fair and Handsome, Kesh King and Dermicool, had reported a turnover of Rs 2,921.57 crore for FY24.
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First Published: Aug 31 2024 | 12:05 PM IST