Consumer goods company Emami is gearing up to acquire a 100% stake in men’s grooming brand The Man Company marking its first complete acquisition in the D2C sector. Anonymous sources report that the deal is set to be worth Rs 400 crore and is expected to be concluded within a few weeks.
The conglomerate company already held a controlling portion in the company with more than 50% stakes, while 35% stakes were collectively owned by the cofounders Hitesh Dhingra, Parvesh Bareja, and Bhisam Bhateja.
Emami had acquired a 33.9% stake in the Gurugram-based men’s grooming startup across two tranches, first in December 2017 and second in February 2019.
The Man Company noted Rs 185 crore in revenue in FY24 with 70% of it coming from prominent e-commerce platforms, in addition to its website. For the same period, its EBITDA level profitability was Rs 14 crore.
The Man Company was founded by Bhateja, Bareja, and Dhingra in 2015, and to date, the Gurugram-based business has raised Rs 75 crore in funds. Notably, it gets competition from Ustraa, and Beardo, which was also acquired in July 2020 by Marico, an India-based consumer goods company.
