Marico completes acquisition of Beardo as Venture Catalyst exits
Jul 2, 2020
FMCG major Marico Ltd has acquired an additional 55 percent stake in Beardo to take complete control of the men’s grooming brand. With this acquisition, Venture Catalysts (VCats) has taken a complete exit from Beardo.
Marico had acquired a 45 percent stake in Beardo in 2017. The investment by Marico had helped Beardo expand its retail presence across the country.
With Beardo becoming a profit-making company in a short span of time, Marico is betting big on Beardo to help it strengthen position in the booming men’s grooming market.
VCats did not disclose the exact return on its investment in Beardo claiming it to in the range of 5x-8x. Founded by Ashutosh Valani and Priyank Shah in 2015, Beardo is one of VCats’ earliest bets.
“We were one of the first to have believed in Beardo’s true potential and the idea. With Marico’s acquisition of Beardo, VCats has taken a complete exit at stellar valuations. We wish the Beardo team great success and hope to see it become a global brand,” in a statement said Apoorva Ranjan Sharma founder of Venture Catalysts.
Ashutosh Valani co-founder of Beardo added, “We are fortunate to have got Venture Catalysts as our investor and mentor. VCats has been a tremendous support in our journey from a start up to becoming a national brand.”
Beardo owned by Zed Lifestyle Pvt Ltd started operations in the year 2016 offering men’s grooming products like face-wash, soaps, face-packs, scrubs, hair-care, skin-care beard wash, and beard oils products.
The company plans to expand its reach to over 25,000 outlets from the current 5,000 over the next two years and also eyeing international markets such as the US for future growth.
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