Home-grown FMCG leader Emami announced on Saturday that it will acquire the remaining 49.6% stake in Helios Lifestyle, which owns the male grooming brand ‘The Man Company.’
Helios Lifestyle is already a subsidiary of Emami, holding a 50.4% share, as stated by Emami.
The completion of this acquisition will enhance Emami’s position in the rapidly expanding digital-first premium male grooming market, according to the company.
Emami had previously acquired a 33.09% equity stake in Helios in two phases—December 2017 and February 2019. This stake was later increased to 50.4% in 2022.
The Man Company, a digital-first lifestyle brand, provides premium grooming products for men, including items in fragrances, skincare, hair care, body care, and beard management.
“The segment presents significant opportunities for innovation and growth. Emami is already an active player in the male grooming market with its brand Fair and Handsome,” the statement noted.
According to Emami, the market for male grooming products in India is experiencing rapid growth.
“We are pleased to invest further in The Man Company, recognizing its vast potential and being impressed by the promoter’s vision and dedication. With this 100% acquisition, we look forward to advancing the brand to new levels of success,” the statement concluded.
Earlier this month, Emami Chairman R. S. Goenka stated at the company’s AGM that Emami will continue to seek opportunities for inorganic and strategic growth to enter new product categories.
Having previously acquired brands like AloFrut, Creme21, and Zandu, Emami plans to pursue similar opportunities to expand into new segments and broaden its market presence.
According to its latest annual report, Emami derived 45% of its revenue in FY24 from acquired brands, with an increased proportion of revenues coming from non-rural areas.
Emami, which owns brands such as Navratna, Boroplus, Zandu, Fair and Handsome, Kesh King, and Dermicool, reported a turnover of ₹2,921.57 crore for FY24.