Pharma major Cipla Ltd has made a significant move in the consumer healthcare and wellness sector by acquiring the cosmetics and personal care distribution and marketing business of Ivia Beaute Pvt Ltd. The deal, valued at Rs 130 crore, includes the acquisition of popular brands Astaberry, Ikin, and Bhimsaini on a worldwide basis.
Cipla Health Ltd (CHL), a subsidiary of Cipla, signed a Business Transfer Agreement (BTA) for the purchase of Ivia Beaute’s distribution and marketing business. This strategic acquisition aligns with Cipla’s focus on expanding its consumer healthcare portfolio.
The transaction involves an initial payment of Rs 130 crore upon closing, with an additional Rs 110 crore contingent upon meeting certain financial milestones over the next three years. The completion of the deal is expected within 60 days from the signing of the BTA, subject to the fulfillment of specified conditions.
CHL CEO and Whole Time Director Shivam Puri expressed excitement about the acquisition, emphasizing the company’s commitment to the beauty and personal care sector. He highlighted the opportunity to enhance Cipla’s presence in Tier 2-6 cities and provide comprehensive solutions to meet diverse consumer needs.
With a brand legacy of over 16 years, Astaberry offers a wide range of skincare products to address various concerns. The integration of these brands into Cipla’s portfolio is expected to strengthen its position in the market and drive growth in the consumer healthcare segment.