HUL acquires Minimalist's parent company for Rs 2,955 crore

Hindustan Unilever (HUL) has received approval from the Competition Commission of India (CCI) to acquire Uprising Science, the parent company of the skincare brand Minimalist. The deal is valued at Rs 2,955 crore. HUL will initially buy 90.5% of the shares, with plans to acquire the remaining 9.5% within two years. Minimalist is based in Jaipur and offers a variety of beauty and personal care products. The CCI confirmed that HUL’s acquisition will involve a mix of buying out existing shares and investing additional funds. The Minimalist team, led by Rahul and Mohit Yadav, will continue to run the business for the next two years post-acquisition. HUL is a major player in the fast-moving consumer goods (FMCG) sector, with over 50 brands under its umbrella, including well-known names like Lakme, Lux, and Surf Excel. Although shares of HUL fell 6.72% in the past year, it remains a significant company in the industry. In the last three years, HUL shares have provided returns of 3.29%. Overall, HUL's recent performance has not matched that of broader indices like Nifty50 and Sensex.