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HUL Acquires 90.5% Stake In Minimalist For Rs 2,955 Crore

HUL Acquires 90.5% Stake In Minimalist For Rs 2,955 Crore

FMCG major Hindustan Unilever Ltd has acquired 90.5 per cent stake in skincare startup Minimalist. Deal is through secondary buyouts and primary capital infusion at a pre-money enterprise value of Rs 2, 955 crore. HUL reported a 19 per cent rise in the third quarter profit ( Q3 ) to Rs 3,001 crore on account of a one-time gain of Rs 509 crore from the divestment of Pureit business. The profit before exceptional items was flat. Sales from operations rose to Rs 15,195 crore during the December quarter as against Rs 14,928 crore a year ago.

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