Honasa Consumer Limited — JV/Acquisition, 11-12-2025: Acquisition

Honasa Consumer is acquiring a 95% stake in BTM Ventures, owner of the 'Reginald Men' personal care brand, for ₹195 Cr. This strategic move bolsters Honasa's presence in the rapidly expanding men's grooming market, projected to exceed ₹40K Cr by 2032. Reginald Men, with ₹74 Cr TTM revenue and a 24% EBITDA margin, strengthens Honasa's portfolio, particularly in South India. The acquisition offers significant opportunity for category, channel, and geographic expansion, aiming to unlock over ₹500 Cr in future revenue.