Indian Consumer Goods Company Reportedly Enters Advanced Negotiations for Potential Acquisition of Skincare Startup Minimalist

Hindustan Unilever is reportedly in advanced negotiations to buy out the Indian startup Minimalist, which has received backing from the venture capital firm Peak XV. The deal, if finalized, would be worth up to a staggering $350 million.

According to sources familiar with the matter, Hindustan Unilever’s talks with Minimalist are ongoing but no agreement has been reached yet. This potential acquisition would mark another significant investment by the consumer goods giant in India, following its earlier acquisitions of Oziva and Wellbeing Nutrition.

Minimalist, a four-year-old company based out of Jaipur, operates a skincare brand that offers a wide range of products, including sunscreen to hair repair serum. Despite being in its early stages, Minimalist has already achieved significant revenue growth, with its fiscal year 2024 results revealing an impressive 89% increase from the previous year. The startup also claimed to have achieved profitability.

Hindustan Unilever itself has a long history of investing in Indian startups, having participated in Minimalist’s Series A round back in mid-2021 through its venture arm, Unilever Ventures. Peak XV Partners, which led Minimalist’s seed funding in late 2019, also backed the company.

As reported by TechCrunch, Hindustan Unilever’s talks with Minimalist are said to be ongoing but no agreement has been reached yet.

Source: techcrunch.com