Marico has acquired 45% stake of one of the most renowned brands today in the men’s grooming segment Beardo.
The acquisition has happened for an undisclosed amount and the equity is slated to be acquired in the duration of two years, following primary infusion and secondary buy-outs.
Owned by Ahmedabad-based Zed lifestyle, Beardo has been funded by Venture Catalyst, the leading seed investment and innovation platform in India.
Venture Catalysts Co-Founder Dr. Apoorv Ranjan Sharma, said, “It certainly feels like an achievement to have another immensely promising company from the Venture Catalysts’ portfolio successfully cutting through the acquisition deal. We recognized the stellar potential of Beardo during the preliminary stages of its seed investment. I would personally congratulate the founding team and am further excited at the prospect of newer opportunities opening up for the brand. We shall be closely watching their growth and scale in the times to come.”
In regards to the association, Marico said, “The Rs 3,200-crore male grooming market, growing at a double digit CAGR, is a strategic category for Marico. Marico views this investment in Zed Lifestyle as a stepping stone towards its ambition of strengthening its presence and widening its portfolio in this segment.”
The line of products introduced by Beardo takes care of all-rounded personal grooming for men. For the beard, it offers growth oil, wax and shampoo, along with wax and serum for hair and lotion, soap and face wash for the ultimate skin care. After raising a seed funding worth $500,000, Beardo has been successful in further strengthening its presence in the online trade, scoring 75% of its revenue from the same.