HUL acquires majority stake in Minimalist, beauty brand

Hindustan Unilever Limited (HUL) has received approval from the Competition Commission of India (CCI) to acquire 90.5% of Uprising Science Pvt Ltd, the parent company of the beauty brand Minimalist. The remaining 9.5% will be purchased in two years. HUL sought CCI clearance for the acquisition in January, assuring that it would not harm market competition. The deal focuses on the beauty, skincare, personal care, and haircare sectors in India. HUL plans to pay Rs 2,955 crore for the stake. The current management team of Minimalist will continue to run the business for the next two years.