Avenue Supermarts’ founder acquires Health and Glow

Avenue Supermarts’ founder Radhakishan Damani has acquired multi-brand beauty and personal care business Health and Glow. The deal is estimated to have a total value of between Rs 700 crore and Rs 750 crore and sees Damani invest in India’s fast growing beauty market. 

The acquisition deal for the Bengaluru-based beauty business has been finalised, the Economic Times reported. Damani acquired Health and Glow from the family offices of Rajan Raheja and Hemendra Kothari. 
 
Health and Glow launched in 1997 and opened its first ever brick-and-mortar store in Chennai. The business today counts over 175 stores in India. Health and Glow retails products by Indian and international cosmetics brands including Color Revolution, Sugar, Kiro, Olay, Simple, Biotique, and Maybelline as well as its own private label Health and Glow.  

Health and Glow will be the second acquisition for billionaire entrepreneur Radhakishan Damani following his acquisition of retail chain Bombay Swadeshi Stores in 2015, Indian Retailer Bureau reported. The deal was valued at Rs 42 crore and and saw Damani purchase the country’s oldest retailer.
 
Damani’s retail chain Avenue Supermarts also runs D-Mart stores which retail value apparel, groceries, beauty products, and personal care goods. The business saw its net profits increase by 2.3% year-on-year in the first quarter of the 2024 financial year.