Published
Feb 20, 2019
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Marico Ltd to fully acquire Beardo by March 2020

Published
Feb 20, 2019

Home-grown FMCG firm Marico Ltd is looking to fully acquire Indian men’s grooming brand Beardo by the end of the next financial year.
 

Marico Ltd to fully acquire Beardo by March 2020 - Beardo - Facebook


Marico had invested an undisclosed amount in November 2017 to pick up 43 percent stake in Beardo. The investment by Marico has helped Beardo expand its retail presence across the country.
 
Beardo is planning to further 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.

Beardo has already become a profit making company which is why Marico is planning to make it a 100 percent subsidiary to strengthen its position in the booming men’s grooming market.
 
Marico Limited had reported a net profit of Rs 252 crore ($35.2 million) during the third quarter and had a revenue of Rs 1,883 crore with strong contributions from the men’s grooming segment.
 
“By end of next year (March 2020), Beardo will become a 100 percent subsidiary of Marico Ltd. Beardo is already a profit making company and will continue, post-acquisition,” Vivek Karve chief financial officer of Marico Ltd told BusinessLine.
 
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. It is available online and at over 5000 retail outlets across the country.

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