Honasa Consumer board approves amalgamation of Fusion Cosmeceutics and Just4Kids with company

Personal care and beauty brand Honasa Consumer’s board of directors has approved the amalgamation of its subsidiary businesses Fusion Cosmeceutics, which specialises in skincare, and Just4Kids, which is a multi-lingual content platform, with the company.

“The Board of Directors of the Company, at its meeting held today i.e. on April 19, 2024, considered and approved the scheme of amalgamation… providing for the amalgamation of wholly owned subsidiaries of Honasa Consumer Limited namely, Fusion Cosmeceutics Private Limited (Transferor Company-1) and Just4Kids Services Private Limited (Transferor Company-2) into and with Honasa Consumer Limited,” announced Honasa Consumer in a filing, the Press Trust of India reported.
 
Following its board approval, Honasa Consumer’s scheme will now be subject to the statutory and regulatory approvals as dictated by Indian law. These include the approval of the National Company Law Tribunal in New Delhi and the National Company Law Tribunal in Chandigarh.
 
“The resultant operations are expected to be substantially cost-efficient which would result in maximising overall shareholder value and will improve the competitive position of the combined entity,” read Honasa Consumer’s filing. “Eliminate layered structures and reduce managerial overlap.”
 
In the 2023 financial year, Just4Kids achieved a revenue total of Rs 4.05 crore and Fusion Cosmeceutics reported a standalone revenue total of Rs 76.61 crore, India Retailing reported. Along with these two brands, Honasa Consumer’s portfolio includes natural beauty label Mamaearth, Bblunt, Dr Sheth’s, Aqualogica, Ayuga, and The Derma Co, according to its website.