HUL Seeks CCI Nod for Minimalist Acquisition

Hindustan Unilever Ltd is seeking approval from the Competition Commission of India to acquire 90.5% of Uprising Science Pvt Ltd, the parent company of beauty brand Minimalist. The deal, valued at Rs 2,955 crore, includes a future acquisition of the remaining 9.5% over two years.

Hindustan Unilever Ltd (HUL), a major player in the fast-moving consumer goods sector, has approached the Competition Commission of India (CCI) to secure approval for the acquisition of Uprising Science Pvt Ltd, the parent company of beauty and personal care brand Minimalist.

The proposed transaction involves HUL acquiring a 90.5% stake in Uprising Science, with plans to purchase the remaining 9.5% within two years. This move is in line with the terms set out in a share purchase and subscription agreement between the two parties.

While the deal has been reported at a valuation of Rs 2,955 crore, including a primary infusion of Rs 45 crore, HUL maintains that it will not significantly impact market competition. The CCI will assess the potential market effects before granting its approval.

(With inputs from agencies.)