Marico acquires 60 percent stake in ayurvedic beauty brand Just Herbs
FMCG major Marico Ltd has acquired a 60 percent stake in Apcos Naturals Private Limited which owns the premium ayurvedic beauty brand, Just Herbs, for an undisclosed amount.
Marico will acquire the equity stake over two years through primary infusion and secondary buy-outs. With this acquisition, Marico has strengthened its presence in the premium personal care segment and expects to make deeper inroads in this market going forward.
Commenting on the investment, Saugata Gupta, managing director and CEO of Marico Ltd, in a statement said: “This investment is another step towards our aspiration to build a portfolio of at least three Rs 100-crore plus digital brands within the next three years. Just Herbs presents an exciting and differentiated opportunity to have a meaningful play in Ayurveda-led beauty categories. The brand has built a healthy consumer franchise on the back of the quality and efficacy of its offerings.”
Apcos Naturals CEO and co-founder, Arush Chopra, added: “We believe that Marico's evolved capabilities, processes, and systems will complement our ambition to scale up online as well as offline.”
Just Herbs was co-founded by Arush Chopra and Megha Sabhlok in 2010. It offers Ayurveda-based skin and hair care offerings, made from certified organic ingredients.
The brand sells through exclusive brand outlets and online marketplaces like Amazon, Flipkart, and Nykaa, among others.
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