Hindustan Unilever (HUL) has signed an agreement with Glenmark Pharmaceuticals to acquire its intimate hygiene brand VWash. The deal includes acquisition of intellectual property rights including trademarks, design and know how related to the VWash brand. The consideration has been split into two parts involving an upfront cash payment upon closing of the deal and a deferred consideration over the next three years.
Glenmark Pharmaceuticals will continue to manage the business until the transaction is completed, and will also continue to manufacture for the company for an agreed period of time.
HUL is India’s largest Fast Moving Consumer Goods Company with a heritage of over 80 years in India and touches the lives of nine out of ten Indian households.
