Marico, an Indian consumer products group, has agreed to acquire a 45% stake in Zed Lifestyle, which owns Beardo, a fast-growing male grooming brand.
Marico will acquire the stake over a two-year period through a primary capital infusion and secondary buyouts. The deal value has not been disclosed.
Zed Lifestyle was founded by entrepreneurs Ashutosh Valani and Priyank Shah in Ahmedabad in June 2016. Its Beardo products include growth oil, beard wax and shampoo, hair wax and serum, lotions, soaps and facewashes. Almost 75% of its business is generated through online sales.
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