Bajaj Consumer Care to acquire Vishal Personal Care for ₹120 crore

New Delhi: Mumbai-based Bajaj Consumer Care Ltd., a manufacturer of personal care products, has acquired Hyderabad-based Vishal Personal Care Pvt. Ltd. for ₹120 crore. 

This deal gives Bajaj Consumer Care access to Vishal's hair and skincare products sold under the Banjara's brand.

The acquisition will be completed in two tranches. Bajaj Consumer Care will initially acquire a 49% stake, followed by the remaining 51%. The total transaction value is estimated at ₹120 crore, with an enterprise value of approximately ₹108.3 crore, according to a company filing. This marks the company's first acquisition till date.

Bajaj Consumer Care will acquire Vishal Personal Care from its existing shareholders, including private equity firm Peepul Capital, which invested an undisclosed amount in 2012 from its $320 million Peepul Capital III fund.

"Acquiring Vishal Personal Care is a strategic move to strengthen Bajaj Consumer Care's presence in the five southern markets," said Jaideep Nandi, managing director of Bajaj Consumer Care. "Adding Banjara's to our portfolio enhances our ability to serve evolving consumers across India and complements our product range for further expansion."

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Vishal Personal Care reported revenues of ₹51 crore in fiscal year 2024. Banjara's, founded in 1991, sells herbal powders, aloe vera gels, shampoos, and hair care powders with over 70,000 outlets across the five southern states.

“The board of directors of Bajaj Consumer Care Limited in its meeting held today i.e. February 14, 2025 has accorded its approval for entering into a share purchase cum shareholders agreement with Vishal Personal Care Private Limited, Peepul Capital Fund III LLC, and others for acquiring 100% of the equity shares of the target company from the existing shareholders of the target company in two tranches,” the company said.

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Bajaj Consumer Care, an FMCG company part of the $2.5 billion Bajaj Group led by Kushagra Bajaj, reported revenues of ₹967.71 crore and a profit of ₹158.77 crore in fiscal year 2024. 

Its product portfolio includes hair care products like Bajaj Almond Drops oil, amla oil, coconut oil as well as soaps, serums, shampoos, and conditioners.

This acquisition allows Bajaj Consumer Care to leverage Vishal's extensive distribution network in south India and introduce Banjara's products to its strongholds in Hindi-speaking markets, effectively doubling its reach. 

The company also plans to expand into modern trade and export markets, capitalizing on the growing global demand for natural personal care products.

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