Cipla to acquire Ivia Beaute Private Limited

Cipla Health Limited (CHL) has signed an agreement to acquire the cosmetics and personal care business of Ivia Beaute Private Limited for Rs 130 crore ($16 million).

With this acquisition, CHL will get rights to Ivia’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis.

The addition of these brands is expected to strengthen CHL’s play in the fast-growing beauty and personal care sector in the Indian market.

Commenting on the acquisition, Shivam Puri, CEO of CHL in a statement 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. Our target consumer base is discerning and seeks variety, especially when it comes to new brands in personal care.”

“Integrating Astaberry, Ikin and Bhimsaini into our portfolio seamlessly complements our existing offerings across key OTC/consumer healthcare categories, empowering us to deliver comprehensive solutions that cater effectively to the diverse everyday needs of our consumers,” he added.

The transaction is expected to be completed within 60 days from the signing of the business transfer agreement or such other date mutually agreed between the parties.