Emami acquires balance 49.6% stake in Helios Lifestyle to make it wholly-owned entity
Emami Ltd on Saturday announced it has entered into a binding agreement with Helios Lifestyle to acquire the balance 49.6% stake to make it a wholly-owned entity. Emami will pay Rs 177.63 crore for this stake in an all-cash deal.
Emami already owned 50.4% in Helios which sells the men’s grooming brand The Man Company and Helios has been a subsidiary of the company. In 2023-24, Helios had a turnover of Rs 183 crore. ET had written about this deal in July.
The Man Company is a digital-first lifestyle brand offering head-to-toe range of premium men’s grooming products in categories like fragrances, skin care, hair care, body care and beard management.
Emami said the completion of the acquisition will strengthen its presence in the fast growing digital first premium male grooming segment. The company already has a presence in the segment through its brand Fair and Handsome.
Harsha V Agarwal, vice chairman & MD, Emami said, the company has adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalization to incubate new engines of growth. «These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences,» he said.
The Man Company brand was Emami's first strategic investment in 2017 with the company becoming its subsidiary in 2022. Mr Agarwal said Emami continues to explore more such opportunities for strategic investment that have synergies with the existing line of businesses.
( Read more on economictimes.indiatimes.com
