Cipla to buy Ivia Beaute's cosmetics and personal care business for Rs 130 crore

Cipla announced on April 15 that its wholly owned subsidiary and consumer healthcare arm of the company Cipla Health Limited (CHL) has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private Limited including Ivia’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis. The cost of acquisition will be Rs 130 crore on the closing date.

In a regulatory filing, Cipla said the transaction is expected to be completed within 60 days from the signing of the business transfer agreement or such other date mutually agreed between the parties in writing and shall be subject to successful completion/waiver of the conditions precedent and closing conditions as mentioned in such business transfer agreement.

"Building on its strong presence through a cluster of brands in Tier 2-6 towns, CHL is strengthening its play in the fast-growing beauty and personal care sector catering to the aspirational consumer of India. The growing adoption of beauty and personal care products in Indian households signals a prominent trend, positioning the market as crucial for CHL’s expansion efforts," a statement from the company said.

"With a brand legacy of over 16 years, Astaberry caters to consumers through a wide range of unique products to help them address their skincare needs. These brands complement CHL's offerings in the skin care segment and enriches the portfolio with trusted and effective solutions for consumers," the statement further added.