Godrej Consumer acquires Muuchstac in Rs 450-crore in all-cash deal

FMCG giant Godrej Consumer Products Ltd (GCPL) has completed its ₹450 crore acquisition of Muuchstac, and the brand’s founders will continue to run the business.

GCPL Managing Director and CEO Sudhir Sitapati, in a post on social media platform LinkedIn, said its founders "Vishal and Ronak will continue to run this business with GCPL supporting them".

The deal will happen in two parts and will be fully paid in cash. In the first phase, GCPL will pay ₹289 crore for an enterprise value of ₹380 crore. The second payment, about ₹160 crore, will be made 12 months later at an enterprise value of ₹400–500 crore.

"If anyone else knows of a new-age D2C business with numbers as good as this one, please write a comment or DM me," said Sitapati.

"On 10 November 2025, we bought out Muuchstac in a Rs 450 crore deal, at an attractive valuation for Godrej Consumer Products Ltd, which also offered Vishal and Ronak a greater than 15,000x return," said Sitapati.

"One SKU, Muuchstac Face Wash, was getting strong consumer traction. They figured that something about this product clicked with consumers (buy to find out what!) and they pivoted their entire effort to this one SKU," he said, adding now face wash accounts for 90 per cent of their revenue.

Last month, GCPL announced that it had signed an agreement to buy the FMCG business of Triology Solutions, which mainly operates in the male grooming category under the ‘Muuchstac’ brand, through a slump sale to “drive profitable growth.”

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About Muuchstac 

Founded in 2017 by Vishal Lohia and Ronak Bagadia, Muuchstac is currently one of the top two brands in the men’s online facewash category and among the top three overall. In the 12 months ending September 2025, it recorded about ₹80 crore in revenue and around ₹30 crore in EBITDA (after adjusting for one-offs).

India’s facewash market, valued at ₹6,000–7,000 crore, is growing 15–20% each year, driven by higher skincare awareness and a shift from soaps to specialised cleansers.

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