Pharma major Cipla Ltd is set to expand its consumer healthcare and wellness portfolio with the acquisition of the cosmetics and personal care distribution and marketing business of Ivia Beaute Pvt Ltd. The deal, valued at Rs 130 crore, includes popular brands Astaberry, Ikin, and Bhimsaini on a worldwide basis.
Cipla Health Ltd (CHL), a wholly owned subsidiary of Cipla, has signed a Business Transfer Agreement (BTA) for the purchase of Ivia Beaute’s business undertaking. This strategic move is aimed at strengthening Cipla’s presence in the beauty and personal care sector, particularly in Tier 2-6 cities.
CHL CEO and Whole Time Director Shivam Puri expressed excitement about the acquisition, stating, “Integrating Astaberry, Ikin, and Bhimsaini into our portfolio seamlessly complements our existing offerings across key OTC/consumer healthcare categories, empowering us to deliver comprehensive solutions that cater effectively to the diverse everyday needs of our consumers.”
With a brand legacy of over 16 years, Astaberry offers a wide range of unique skincare products to consumers. The completion of the acquisition is subject to certain conditions outlined in the BTA, with CHL expected to initiate the distribution and marketing of the products upon fulfillment of these conditions.
The transaction is expected to be completed within 60 days from the signing of the BTA, pending successful completion of the stipulated conditions. This move underscores Cipla’s commitment to expanding its consumer healthcare offerings and providing innovative solutions to meet the evolving needs of consumers in the beauty and personal care space.