Honasa Consumer has received the Board’s approval for asset purchase agreement with Cosmogenesis Cosmetics, a sole proprietorship, based out of Thane, Maharashtra to purchase identified assets and intellectual properties as part of this agreement which will benefit the company in expanding the R&D and manufacturing capabilities.
The objective of the acquitting assets is expanding its R&D capabilities by acquiring over 4,000+ formulations in Beauty and Personal Care Category. The company would be acquiring formulations expertise, research & development lab along with a small manufacturing facility. The total cash consideration to be paid post-closing, for the identified assets is Rs 4 crore.
Honasa Consumer, doing business as Mamaearth, provides e-commerce services. The company offers baby, skin, body, and hair care products, as well as mosquito protection roll on and creams.
