Cipla is all set to acquire Ivia Beaute’s cosmetics and personal care business for Rs 130 crore. The transaction will take place within 60 days from the signing of the business transfer agreement, or on an alternative date agreed upon by both parties.
Cipla Health Limited (CHL), a wholly owned subsidiary of Cipla, has recently entered into a significant business agreement. CHL has signed a business transfer agreement and CIPLA is set to acquire Ivia Beaute Private Limited. The distribution and marketing business of cosmetics and personal care products form a part of this agreement. This agreement includes the acquisition of Ivia’s renowned brands, such as Astaberry, Ikin, and Bhimsaini, on a global scale. The total cost stands at Rs 130 crore.
The transaction is to completed within 60 days from the date of signing the agreement or any mutually agreed date. However, this completion is contingent upon the successful fulfilment or waiver of various conditions as outlined in the agreement.
Through this strategic move, CHL aims to leverage its already robust presence in Tier 2-6 towns. It also aims to reinforce its position in the rapidly expanding beauty and personal care sector. The brand is targeting the aspirational Indian consumer demographic across the country.
Astaberry boasts an extensive brand heritage spanning over 16 years. It offers a diverse range of skincare products tailored to meet consumer needs. By integrating Astaberry and other acquired brands into its portfolio, CHL aims to enhance its offerings in the skincare segment. It also aligns with its broader expansion objectives and commitment to meeting consumer demands with quality products.
Shivam Puri, Chief Executive Officer and Whole Time Director of CHL said, “This move not only solidifies our presence in the expansive and dynamic beauty and personal care sector but also builds on our well-established footprint in Tier 2-6 cities. Our target consumer base is discerning and seeks variety, especially when it comes to new brands in personal care. Integrating Astaberry, Ikin and Bhimsaini into our portfolio seamlessly complements our existing offerings across key OTC/consumer healthcare categories, empowering us to deliver comprehensive solutions that cater effectively to the diverse everyday needs of our consumers.”
