Good Glamm in talks to acquire Raymond's consumer care business
Beauty-focused content-to-commerce business Good Glamm Group is in advanced talks to acquire Raymond Group’s consumer case business, which could become one of India’s largest acquisition deals in the personal care industry.
Good Glamm Group is negotiating with a view to acquire the business in a cash-and-stock deal, which is valued at between approximately Rs 2,500 crore and Rs 2,800 crore, three sources close to the matter told ET Tech.
“This acquisition will mark Good Glamm’s entry into the men’s personal care and sexual wellness category,” said one of ET Tech’s anonymous sources.
Raymond Group’s consumer care segment includes readymade menswear and lifestyle brand Park Avenue and condom brand KamaSutra. Over the past year and a half, Good Glamm Group has made numerous acquisitions in the personal care space and beyond including ScoopWhoop, MissMalini Entertainment, Sirona, PopXO, Mom’s Co, and Baby Chakra, among others.
Following its Series D funding round in November 2021, Good Glamm Group entered the unicorn club of businesses which have crossed a valuation of $1 billion.
The business is backed by investors including backed by Prosus (formerly Naspers) and Warburg Pincus and is also reported to be in ongoing talks to raise a further $250 million at a valuation of between $1.8 billion and 2 billion.
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