Honasa Consumer to acquire 58% stake in Fluence Pharma for ₹135 crore

Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, on Tuesday (June 23) said its board of directors has approved the acquisition of a 58% equity stake in Fluence Pharma Private Ltd through a secondary purchase at an enterprise value of around ₹135 crore, subject to closing adjustments and completion of conditions precedent.

The company said it will acquire the remaining 42% stake in Fluence Pharma in two tranches over the next 5–7 years following completion of the initial acquisition, in line with the Share Purchase Agreement and Shareholders’ Agreement.

Fluence Pharma Private is a science-led nutraceuticals company offering hair and skin solutions using patented nutritional therapy through dermatologists. It offers condition-specific OTC supplement kits built on patented Cyclical Nutritional Therapy and sold exclusively through dermatologists.

ALSO READ | Honasa Q3: Mamaearth parent's profit zooms 93% to ₹50 cr; posts highest quarterly revenue

Fluence Pharma offers condition-specific OTC supplement kits under the brands “Hair Fact, Skin Fact and Pro Fact,” based on patented nutritional therapy. It operates in the nutraceuticals segment, with hair-focused solutions contributing more than 70% of revenue.

The company has a doctor-led distribution network of over 3,000 dermatologists and over 10 years of in-clinic performance, and is headquartered in Mumbai. It was incorporated on March 5, 2012. Fluence Pharma reported revenue from operations of ₹32.24 crore in FY23, ₹35.99 crore in FY24, and ₹37.21 crore in FY25.

Honasa said the acquisition will expand its presence in the nutraceuticals category and strengthen its portfolio with a science-led, patented brand in the segment.

ALSO READ | Honasa Consumer shares get an upgrade but target projects downside

The board has also approved the incorporation of a wholly owned subsidiary, Honasa Health Private Ltd, which will undertake business-to-consumer nutraceuticals operations.

The subsidiary will be incorporated in India with an initial paid-up capital of ₹1,00,000, comprising 10,000 equity shares of ₹10 each and will be fully owned by the company.

The incorporation is subject to the Ministry of Corporate Affairs approval. Honasa said the subsidiary will operate in the consumer nutraceuticals business segment. Shares of Honasa Consumer Ltd ended at ₹415.90, up by ₹0.85, or 0.20%, on the BSE.

ALSO READ | Honasa Consumer Q4 Results: Profit declines, revenue rises 13% YoY on newer brands growth