Pharma giant 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 takeover of popular brands Astaberry, Ikin, and Bhimsaini on a worldwide basis.
Cipla Health Ltd, a wholly owned subsidiary of Cipla, has signed a Business Transfer Agreement for the purchase of Ivia Beaute’s business undertaking. This strategic acquisition is in line 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 acquisition is expected within 60 days from the signing of the agreement, subject to the fulfillment of specified conditions.
CHL CEO and Whole Time Director, Shivam Puri, expressed excitement about the acquisition, stating that it strengthens their presence in the beauty and personal care sector. He emphasized the seamless integration of Astaberry, Ikin, and Bhimsaini into their existing product offerings, catering effectively to consumer needs.
With a brand legacy of over 16 years, Astaberry is known for its unique skincare products. The transfer of the business undertaking will enable CHL to initiate the distribution and marketing of these products, further enhancing their market presence and consumer reach.