Godrej Consumer Products Limited (GCPL) has announced that it has entered into an agreement to acquire the FMCG business of Triology Solutions Private Limited (TSPL), the company behind the popular Muuchstac brand in the male grooming category. The acquisition will be executed through a slump sale on a going concern basis, marking GCPL’s latest step to strengthen its position in the fast-growing men’s grooming market.
According to the company’s exchange filing, the acquisition aims to drive profitable growth and expand GCPL’s footprint in India’s fast-moving consumer goods (FMCG) space. The transaction will be completed within the next few weeks, subject to customary closing formalities.
The deal is valued at an enterprise value of ₹380–500 crore, with payments structured in two tranches. The first tranche of ₹289 crore will be paid at the time of signing, followed by a second tranche of around ₹160 crore after 12 months. The entire consideration will be paid in cash.
Triology Solutions, incorporated in 2017, operates mainly in the male grooming segment and has gained traction with its Muuchstac product line. The company’s turnover has grown sharply in recent years — from ₹12 crore in FY23 to ₹87 crore in FY25, with a trailing 12-month turnover of ₹80 crore as of September 2025.
This acquisition aligns with Godrej Consumer’s strategy to tap into niche, high-growth FMCG segments. The move also reflects the company’s focus on premium, innovation-led categories that cater to evolving consumer preferences in personal care.
No regulatory approvals are required for the deal, and GCPL confirmed that the acquisition is not a related-party transaction.
