SUMMARY
- GlobalBees now owns 100% of The Butternut Co after investing an additional ₹8 crore.
- The Butternut Co reported a 57% increase in revenue and reduced losses by 42% in FY24.
- GlobalBees also invested ₹5.88 crore in The Clownfish, strengthening its D2C portfolio.
GlobalBees, a subsidiary of FirstCry, has solidified its ownership of D2C brand The Butternut Co by acquiring an additional 24% stake, bringing its total shareholding to 100%. The new investment of ₹8 crore follows The Butternut Co’s significant year-on-year growth in FY24, with a revenue increase of 57%, reaching ₹11.14 crore. Furthermore, the brand successfully reduced its losses by 42%, narrowing them to ₹1.61 crore.
GlobalBees’ strategic move reflects its ongoing commitment to expanding its portfolio of direct-to-consumer (D2C) brands. The Butternut Co, known for its range of nut butters and health-focused food products, has gained popularity in the health-conscious market, contributing to the company’s impressive revenue growth.
In addition to the acquisition of The Butternut Co, GlobalBees recently increased its stake in The Clownfish, a bags and rainwear brand, through a ₹5.88 crore investment, further demonstrating its aggressive expansion in the D2C space.
GlobalBees has been actively building a diverse portfolio of brands across sectors, leveraging its expertise in scaling businesses through strategic investments and operational synergies.
