Hindustan Unilever Limited (HUL) announced today that it has signed an agreement with Glenmark Pharmaceuticals Ltd to acquire its intimate hygiene brand VWash.
VWash was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene category backed by a strong product proposition, good consumer endorsements and sustained investments in brand building.
The deal includes the acquisition of intellectual property rights including trademarks, design and know-how related to the VWash brand. The consideration has been split into two parts involving an upfront cash payment upon closing of the deal and a deferred consideration over the next three years. The transaction is subject to fulfilment of certain conditions, and both parties would be working together to complete this in the next few months. Glenmark will continue to manage the business until the transaction is completed, and will also continue to manufacture for HUL for an agreed period of time.
The proposed acquisition is in line with HUL’s strategic intent to enter fast-growing segments of the future in the premium Beauty & Personal Care category. Commenting on the proposed acquisition, Sanjiv Mehta, Chairman & Managing Director of HUL, said, “The acquisition of VWash gives us an entry into the currently underpenetrated and rapidly growing female intimate hygiene segment. The brand has a leadership position and fits well into the white spaces in our Beauty & Personal Care business. We look forward to completing the acquisition and strongly believe HUL is well-positioned to further scale up this business, given the strength of our market development and distribution capabilities.”
About Hindustan Unilever Limited
Hindustan Unilever Limited (HUL) is India's largest Fast-Moving Consumer Goods company with its products touching the lives of nine out of ten households in the country. HUL works to create a better future every day.
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