HUL Completes Acquisition Of 90.5% Stake In Minimalist Parent Co Uprising Science For Rs 2,706 Cr

Hindustan Unilever Limited (HUL), one of India’s top FMCG companies, announced that it has completed the acquisition of a 90.5% stake in Uprising Science for Rs 2,706.44 crore.

The deal involved both a direct investment into the company and buying shares from existing shareholders, adding up to a total cash payment of Rs 2,706.44 crore, HUL said in a stock exchange filing.

The acquisition followed the terms of a Share Purchase and Subscription Agreement.

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This comes just a month after the Competition Commission of India (CCI) approved HUL’s plan to buy a majority stake in the direct-to-consumer (D2C) personal care brand.

In January, HUL agreed to buy 90.5% of the brand’s parent company for Rs 2,670 crore in cash. The deal valued the company at Rs 2,955 crore before the investment, making it one of the biggest D2C acquisitions in India in recent years.

About Minimalist

Founded in 2020 by Mohit Yadav and Rahul Yadav, the Jaipur-based Uprising Science makes and sells beauty, personal care, baby care and hair care products under the brand name—  Minimalist.

The direct-to-consumer brand earned ₹350 crore in revenue in the financial year ending March 2024 — an 86% increase compared to the previous year, according to tracxn.

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