Marico acquires Men’s Grooming startup Beardo
Marico has now fully acquired Beardo, a startup company which operates into the men’s grooming market, by buying 55 percent additional shares, a move which will help FMCG firm to extend its play into the segment.
Marico has acquired the remaining 55 percent share of Zed Lifestyle, Beardo’s parent firm, in an all-cash deal, making a step-down company.
Founded by Ashutosh Valani and Priyank Shah in 2015, Beardo is Shop for the complete range of Men grooming products for your hair, beard, mustache, skin & face. Shampoo, beard wash, beard oil, facial serum, face lotion etc.
“The investment makes the investee company (Zed Lifestyle) a wholly-owned subsidiary of Marico Ltd and gives Marico a complete control over the operations of the investee company,” said Marico in a regulatory...