Cipla Health Acquires Cosmetics brand Ivia Beaute for 130crore

By Team Startupcity  |  Tuesday, 16 April 2024, 08:51 IST

Cipla Health Acquires Cosmetics brand Ivia Beaute for Rs.130crore
A leading player in Drug, Cipla Ltd said its completely possessed subsidiary and customer medical services arm Cipla Health Ltd will purchase a marketing and distribution business undertaking of beauty & personal care business from Ivia Beaute Private Ltd for 130 crore. 
This procurement, spreading over overall activities, incorporates Ivia’s prestigious brands Astaberry, Ikin, and Bhimsaini. 
The aquirement is esteemed at 130 crore after shutting and an extra 110 crore dependent upon the accomplishment of determined financial achievements throughout the following three years. Prominently, this procurement falls outside the extent of related party exchanges.
According to a stock exchange filing, the company says“We hereby notify that Cipla Health Limited, India, a wholly-owned subsidiary of the Company (“CHL”) has signed a business transfer agreement (“BTA”) on 15th April 2024 for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business from Ivia Beaute Private Limited, India, through a slump sale arrangement on a going concern basis”.
Speaking to this acquisition, the Chief Executive Officer & Whole Time Director of CHL, Shivam Puri, stated, “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."

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