.New Delhi: FMCG major Emami has acquired the remaining 49.60 per-cent stake in Helios Way of living, the parent firm of The Guy Firm, for Rs 177.63 crore. The panel of supervisors of Emami Limited have actually authorized the acquisition of 1,33,572 equity portions of Rs 10 each of Helios Way of living coming from its own existing shareholders, standing for 49.60 percent of the capital portion funding of Helios, the provider pointed out in a BSE submitting. Emami already has a 50.40 percent stake in The Male Company. After getting the balance 49.60 per-cent concern, Helios will certainly come to be an entirely owned subsidiary of Emami.The conclusion of the acquisition of Helios through Emami will definitely strengthen its own presence in the fast-growing digital-first fee male cleaning section, the firm mentioned." Our team had used the course of key investments in new-age start-ups extremely early to leverage online opportunities created through swift digitalization to incubate brand new motors of development. These tactical assets assist our company to possess footprints in emerging sections that line up with developing consumer tastes," stated Harsha V Agarwal, Bad Habit Leader and MD, Emami.He added that Emami will definitely remain to look into even more such opportunities for critical assets that align along with its own existing collection of businesses.Founded in 2013 through Hitesh Dhingra, Parvesh Bareja as well as Bhisham Bhateja, The Man Firm sells premium male grooming products including beard items, skin as well as hair care products, deodorant and also perfumes.In FY24, The Man Company disclosed a turnover of Rs 183 crore up coming from Rs 115 crore in FY23.
Posted On Aug 31, 2024 at 09:51 AM IST.
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