Godrej Consumer Products Ltd (GCPL) is among the top F&O gainers in today’s (February 15, 2022) trading session and that is because yesterday, post markets, the company told the exchanges that they have gone ahead and sold BBLUNT to Mamaearth’s owner Honasa brands for Rs 84.5 crore.
Honasa will also acquire BBLUNT salons, along with its premium hair care, hair colour and styling product range with an overall deal value of Rs 134 crore. The partnership aims to strengthen BBLUNT as a trendy millennial brand and help it utilise Honasa's D2C and E-commerce strength to scale up business.
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The company first acquired 30 percent of BBLUNT in 2013 for an undisclosed amount and currently it accounts for just around Rs 3.12 crore of their overall networth which is 0.01 percent which is why the Street is viewing it positively.
For the last 7-8 years, the company hasn’t been able to scale the business up as per their plans. So the fact that the company has gone ahead and sold it off shows change in strategy of the company pruning their portfolio.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
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