Cipla Makes Strategic Entry into Beauty Sector with $15M Acquisition of Astaberry, Ikin & Bhimsaini
Indian pharmaceutical titan, Cipla, has strategically ventured into the beauty and personal care industry. This move comes with the acquisition of the cosmetics distribution and marketing business of Ivia Beaute Private Limited for a whopping Rs 130 crore ($15.5 million). The acquisition encompasses three prominent beauty brands: Astaberry, Ikin, and Bhimsaini. This marks a significant milestone in Cipla’s expansion into the burgeoning beauty market.
Cipla Health Limited, the consumer healthcare subsidiary of Cipla, has inked a Business Transfer Agreement to procure the global rights to these brands. Astaberry, boasting over 16 years of brand legacy, is renowned for its unique skincare products. This acquisition is in line with Cipla’s strategy to bolster its consumer healthcare and wellness portfolio.
“This strategic move not only fortifies our presence in the expansive and dynamic beauty and personal care sector, but also augments our well-established footprint in Tier 2-6 cities,” stated Shivam Puri, CEO of Cipla Health. The transaction is slated for completion within 60 days, with additional milestone-based payments of Rs 110 crore over the ensuing three years.