Homegrown FMCG major Emami announced to acquire 30 percent stake in Lifestyle, which owns male grooming brand 'The Man Company'.
The stake will be acquired by December 31, 2018, through the infusion of required funds in Helios, the Kolkata-based company said in a statement.
The size of the deal was however not disclosed.
"The acquisition of stake by Emami is significant as it marks the company’s entry in the fast-growing online male grooming segment," it said.
Emami is present in the male grooming segment through its brands Fair and Handsome and HE.
"Rapidly growing male grooming portfolio supported by digital marketing & online sales is an emerging growth segment in the FMCG space," said Emami Director Harsha V Agarwal.
The Man Company offers premium men's grooming products in Bath & Body, Beard management, Shaving & Perfumes category and is sold online majorly through the company's own website – www.themancompany.com.
"Emami not only has very deep industry experience but also believes in our vision to make The Man Company a global brand," said Rohit Chawla, co-founder, Helios Lifestyle.
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