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Hindustan Unilever Limited (HUL) said it will acquire a 90.5% stake in direct to consumer beauty brand Minimalist for Rs 2,955 crore through secondary buyouts and primary infusion. The remaining 9.5% will be acquired from the founders within two years, the FMCG giant said in a stock exchange filing on Wednesday.
ET first reported on January 3 that the deal was in the works. Founders Mohit Yadav and Rohit Yadav will continue to lead the business for two years, the company said.
The transaction is expected to close by second quarter of 2025, subject to regulatory approvals.
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