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Consumer goods giant Hindustan Unilever is in ripe talks to acquire 4 - year - old lineal - to - consumer startup Minimalist for up to $ 350 million , concord to two people conversant with the thing .
An acquisition would add to the Unilever subsidiary ’s buying spree in India , where it expanded into the health and well - being category by acquiring Oziva and Wellbeing Nutrition a year ago .
“ In argumentation with our clientele strategy , on an ongoing cornerstone , we evaluate various strategic chance for the growth and elaboration of our business , ” a Hindustan Unilever representative told TechCrunch in a assertion .
An acquisition will also broaden the skincare portfolio of Unilever ’s Amerind subsidiary , with a grocery cap of over $ 65 billion . HUL go stigma such as Dove , Pond ’s , Lakmé , Sunsilk , Lux , and Lifebuoy .
The talks are ongoing , but a peck is yet to be finalized , the hoi polloi cautioned , requesting namelessness as the deliberations are secret .
In the second half of last class , Minimalistattempted to field interestfrom venture capital firm to plug capital at about $ 300 million valuation , allot to newspaper Mint .
Jaipur - basedMinimalistoperates a skin care blade , selling a wide range of products , from sunscreen to tomentum - mending serum . It saw its revenue surge 89 % to $ 40.8 million in the financial twelvemonth ended March 2024 . The startup also said it was profitable .
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Hindustan Unilever is an investor in Minimalist , having participated in the inauguration ’s Series A round in mid-2021 through its speculation weapon system , Unilever Ventures . Peak XV was the first institutional investor in Minimalist , leading the inauguration ’s seeded player funding in late 2019 .
Minimalist and Peak XV Partners did not respond to postulation for remark .
