Honasa Consumer Acquires Cosmogenesis Labs for Rs 4 Crore

Honasa Consumer, the parent company of beauty and personal care brand Mamaearth, has announced the acquisition of Cosmogenesis Laboratories for Rs 4 crore.

This strategic move aims to bolster Honasa’s research and development capabilities, particularly in the domain of natural and organic products.

The acquisition, expected to close within the next four to six weeks, will see Cosmogenesis founder Rohini Manoj taking on the role of Vice President of R&D at Honasa.

The deal includes acquiring formulation expertise, R&D labs, and a nano-manufacturing facility, significantly enhancing Honasa’s product development efforts.

Varun Alagh, co-founder and CEO of Honasa Consumer, highlighted the importance of this acquisition in a post-earnings call, stating, “To further strengthen our R&D and our product development expertise, we are glad to announce the acquisition of Cosmogenesis Labs. This will enable us to innovate and deliver the right products to our consumers, accelerating growth and improving quality.”

Currently, Honasa’s innovation and R&D team comprises over 15 members. With the addition of Cosmogenesis, the company aims to deepen its expertise in crafting products tailored for the Indian market, enhancing consumer acceptance and satisfaction.

Honasa Consumer has a history of strategic acquisitions, including Mumbai-based BBlunt in February 2022 and Dr Sheth’s in May 2022, the latter valued at Rs 28 crore. Additionally, Honasa had acquired the content platform Momspresso, which was later shut down due to scaling inefficiencies.

Operating seven brands—Mamaearth, The Derma Co, BBlunt, Ayuga, Aqualogica, Dr Sheth’s, and the newly launched Staze—Honasa continues to expand its market presence. The company reported a net profit of Rs 30.4 crore for the quarter ended March 2024, a significant turnaround from a loss of Rs 161.7 crore in the same period the previous year. Revenue from operations in the fourth quarter rose by 21% year-on-year to Rs 471 crore.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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