Shares of Honasa Consumer Ltd were trading 1.70% higher at ₹260.85 on Friday, Dec 12, after the company announced a major strategic acquisition to strengthen its presence in the fast-growing men’s grooming category.
The parent company of Mamaearth revealed that its Board has approved the acquisition of BTM Ventures Private Limited (BVPL), the owner of the men’s grooming label Reginald Men, on December 11, 2025. Under the terms, Honasa will acquire 95% equity through a secondary purchase valuing the company at ₹195 crore on a no-cash, no-debt basis. The remaining 5% will be acquired after one year, based on the valuation formula agreed upon in the Share Purchase and Shareholders’ Agreement.
Honasa expects the first tranche of the deal to close within four weeks.
Reginald Men, headquartered in Hyderabad and incorporated in 2022, has rapidly become a notable player in men’s personal care. After a slow start with minimal revenue in its first two years, the brand recorded ₹20.15 crore in FY24–25 revenue and has already reached ₹74 crore in trailing twelve-month sales as of October 2025. This sharp surge appears to be a key driver behind the acquisition.
The company said the move is not a related-party transaction and aligns with its strategy to build a strong presence in men’s grooming — one of India’s fastest-growing personal care segments. With rising demand for sunscreens, fragrances, beard care and grooming essentials among male consumers, Honasa aims to strengthen its portfolio further.
Since BVPL operates entirely within the FMCG personal care sector, no regulatory approvals are required for the deal, which is fully cash-based. Honasa will gain complete control once the second tranche is completed next year.
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