Pharma Giant Cipla to Acquire Ivia Beaute For Rs 130 Crore

Cipla, a leading pharmaceutical firm will acquire the beauty care products and individual consideration circulation and marketing business of Ivia Beaute Pvt Ltd, including the brands Astaberry, Ikin and Bhimsaini, on an overall reason for Rs 130 crore, as indicated by an administrative recording by the organization. Cipla Wellbeing Ltd (CHL), an entirely possessed subsidiary and consumer medical services firm, has consented to a Business Transfer Agreement (BTA) for acquisition of the dissemination and marketing business undertaking of the beauty care products and individual consideration business of Ivia Beaute Pvt Ltd, Cipla said. 

This essential move is lined up with Cipla's emphasis on improving its consumer healthcare and wellbeing portfolio, it added. The securing will incorporate Ivia Beaute's brands in particular Astaberry, Ikin and Bhimsaini on an overall premise, the organization said.

On the expense of procurement, pharmaceutical firm added it will be "Rs 130 crore on the end date and Rs 110 crore dependent upon accomplishment of specific monetary boundaries (achievements) for upcoming 3 years as referenced in the BTA".

"The transaction is expected to be completed within 60 days from the signing of BTA or such other date mutually agreed between the parties in writing and shall be subject to successful completion/waiver of the conditions precedent and closing conditions as mentioned in such BTA," it added.

CHL CEO and Whole Time Director Shivam Puri said, "This move not only solidifies our presence in the expansive and dynamic beauty and personal care sector but also builds on our well-established footprint in Tier 2-6 cities."