This marks the Gurugram-based company’s second acquisition in less than a year and adds to the growing wave of consolidation in the beauty and personal care sector. In December, Honasa acquired a 90% stake in Hyderabad-based Reginald Men at an enterprise value of ₹195 crore. Earlier this month, L’Oreal announced the acquisition of Bare Anatomy parent, Innovist, at a valuation of ₹4,100 crore.
“The beauty and personal care landscape is entering a new era where consumers are increasingly seeking holistic, inside-out solutions that address beauty concerns at their root. While the last decade was shaped by topical actives, we believe the next decade will be defined by the powerful convergence of science-backed skin and hair care and nutraceuticals,” said Varun Alagh, co-founder and CEO, Honasa Consumer, in a statement.
Honasa will initially acquire a 58% stake in Fluence Pharma and plans to purchase the remaining 42% through secondary transactions over the next five to seven years. The current deal, comprising entirely secondary share purchases, is expected to close within the next eight weeks, according to the filing. Following the acquisition, Fluence Pharma will work with Honasa Health, the company’s newly incorporated subsidiary led by CEO Dheeraj Nagpal.
Fluence Pharma was founded in 2012 by Amit Bhusari and Rajendra Singh Rajput. The nutraceuticals brand will become the ninth brand in Honasa’s portfolio.
