Mumbai based fast-moving consumer goods company, Marico has acquired the Ahmedabad headquartered Zed Lifestyle run grooming products platform, Beardo.
While the former had picked around 45% stake in the company in 2017, the current deal marks a complete acquisition.
“With Marico’s acquisition of Beardo, VCats has taken a complete exit at stellar valuations. We wish the Beardo team great success and hope to see it become a global brand,” Apoorva Ranjan Sharma, founder of Venture Catalysts, said.
Beardo, which was founded by the Priyank Shah and Ashutosh Valani in 2015, sells men’s grooming products such as beard waxes, beard oils, soaps, and other facial hair treatments.
The company sells its products via online channels, which makes around 75% of its revenue and in physical stores and salons as well.