Mumbai, Jul 14 (IANS): Marico Ltd has announced a strategic investment in Apcos Naturals Private Ltd with an acquisition of 60 per cent equity stake for an undisclosed consideration.
This equity stake will be acquired over a period of two years, through primary infusion and secondary buy-outs, a company statement said.
Co-founded by CEO Arush Chopra, and Brand Director Megha Sabhlok, Apcos Naturals Private Ltd owns "Just Herbs, a line of bespoke and Ayurvedic results-driven skin and hair care offerings.
The investment is in line with Marico's strategy to accelerate its digital transformation journey through building scalable digital-first brands, either organically or inorganically, as well as to premiumise its play in personal care.
Marico Ltd MD and CEO, Saugata Gupta said: "Just Herbs presents an exciting and differentiated opportunity to have a meaningful play in Ayurveda-led beauty categories. The brand has built a healthy consumer franchise on the back of the quality and efficacy of its offerings. The digital presence it has built in a short span of time is impressive and we strongly believe in its potential to reach critical mass over the next couple of years. This investment is another step towards our aspiration to build a portfolio of at least three Rs 100 crore plus digital brands within the next three years."
Chopra said: "We are delighted to have entered into a strategic partnership with Marico. The values, entrepreneurial spirit and agility that define Marico's culture fits perfectly with our vision for the future. We believe that Marico's evolved capabilities, processes and systems will complement our ambition to scale up online as well as offline. We are very positive about the future prospects of this partnership and look forward to a fruitful journey with the team."
One of India's leading consumer products companies in the global beauty and wellness space, Marico, during FY 2020-21, recorded a turnover of about Rs 8,050 crore ($ 1.1 billion) through its products sold in India and markets in Asia and Africa.