Indian FMCG player Emami Ltd on Wednesday (March 27) said it will acquire the remaining 4.64% stake in its subsidiary, Brillare Science Pvt Ltd.
"This to inform you that Emami Ltd holds 95.36% in the paid-up capital of its subsidiary company, Brillare Science Pvt Ltd (Brillare). The company has further entered into Share Purchase Agreement with the founder & other shareholders of Brillare for acquiring a remaining stake of 4.64 % of that company," the company said in a stock exchange filing.
With this acquisition, Emami's shareholding in Brillare has increased from 95.36% to 100%, making Brillare a wholly-owned subsidiary of Emami Limited.
Brillare Science Pvt Ltd is a professional beauty care company that offers a range of products in skin, hair, and body care. The company's products are sold directly to consumers (D2C) and are also available through a professional salon network. Brillare Science Pvt Ltd owns the popular brands Brillare and Root Deep.
The financial terms of the deal, including the price of the shares, have not been disclosed. Emami clarified that Brillare is a subsidiary and a related party. None of the promoter, promoter group, or group companies have any interest in Brillare Science Pvt Ltd, it said.
Shares of Emami Ltd ended at ₹436.45, up by ₹0.90, or 0.21%, on the BSE.
