Honasa Consumer (HCPL), the parent company of Mamaearth, has acquired a 63% stake in premium skincare brand Dr Sheth’s for INR280 million (USD3.6 million).
L&L Partners acted as legal adviser to New Delhi-based HCPL on the acquisition. The L&L team was led by partner Nitin Gera and supported by senior associate Shruti Barua and associates Ayush Singh and Ruthvik Tumuluri.
The acquisition will help HCPL strengthen its position in the personal care segment. HCPL had joined the unicorn club in January 2022 at a valuation of USD1.07 billion following a USD52 million funding round led by Sequoia Global.
Founded in 2016, Honasa Consumer sells skincare products under various consumer brands such as Mamaearth, The Derma Co, Aqualogica and Ayuga.
Dr. Sheth’s was advised by Bombay Law Chambers and led by partner Abhinav Harlalka.