Emami Acquires 60% Stake in SkinKraft Parent Company for ₹321 Crore
Emami to buy 60% stake in SkinKraft, Vedix parent IncNut for Rs 321 crore
The Economic Times
Image: The Economic Times
Kolkata-based Emami is set to acquire a 60% stake in IncNut Digital, which owns the beauty brands SkinKraft and Vedix, for ₹321 crore. The deal involves performance-linked adjustments and plans for future stake acquisition over the next 4.5 years.
- 01Emami is acquiring a 60% stake in IncNut Digital.
- 02The deal is valued at ₹321 crore.
- 03Performance-linked adjustments will occur over the next two years.
- 04Emami plans to acquire the remaining stake in two phases over 4.5 years.
- 05Shares of Emami rose by 1.19% following the announcement.
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Emami, a major player in the fast-moving consumer goods (FMCG) sector based in Kolkata, has announced its acquisition of a 60% stake in IncNut Digital, the parent company of popular personalized beauty brands SkinKraft and Vedix. The deal is valued at ₹321 crore (approximately $39 million USD) and includes performance-linked adjustments that will be assessed over the next two years. Emami intends to purchase the remaining stake in IncNut in two phases over the following 4.5 years, with the final valuation dependent on the company's future performance. Following the announcement, Emami's shares experienced a 1.19% increase, trading at ₹457.65 on the Bombay Stock Exchange (BSE).
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This acquisition could enhance Emami's portfolio in the personalized beauty segment, potentially increasing market share and consumer reach.
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