homevideos Newsbusiness Newscompanies NewsGood Glamm group to have 6 lakh points of sale if it acquires Raymond's consumer care business
Good Glamm group to have 6 lakh points of sale if it acquires Raymond's consumer care business
CNBC-TV18 has learnt that the Good Glamm group is set to acquire Raymond's consumer business. The deal is likely to be announced in two weeks.
CNBC-TV18 has learnt that the Good Glamm group is set to acquire Raymond's consumer business. The deal is likely to be announced in two weeks.
The cash-and-stock deal is pegged at around Rs 2500-2800 crore and will mark Good Glamm group's entry into the men's personal care and sexual wellness category. Remember, Raymond Consumer Care houses the Park Avenue and Kamasutra brands.
It is also learnt that Raymond Group and promoters will hold a minority stake in the Good Glamm group.
The venture is also in talks to raise USD 250 million at a valuation of USD 2 billion.
The Good Glamm group has been aggressively acquiring brands such as PopXo, Baby Chakra, Mom's Co, ScoopWhoop, MissMalini Entertainment, Sirona and St Botanica, over the last 18 months.
This will be Good Glamm group's second acquisition in the offline beauty space following its acquisition of Organic Harvest in January this year.
This acquisition will also provide the Good Glamm group a huge offline presence as the Raymond group has around 6 lakh points of sale.
While the Good Glamm group declined to comment on the acquisition, Raymond spokesperson said - that to enhance shareholder value we keep evaluating all options available to us.
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