Honasa Consumer Limited, the parent company of popular FMCG brands including Mamaearth, has completed the acquisition of a 95% equity stake in BTM Ventures Private Limited, which operates the men’s personal care brand Reginald Men, for a total consideration of ₹197.96 crore.
According to the company’s regulatory filing, the transaction was executed through a secondary purchase of equity shares and was completed on January 6, 2026. The acquisition value includes ₹12.71 crore of cash already available on BTM Ventures’ balance sheet, effectively reducing the net outflow for Honasa.
Following the completion of the transaction, BTM Ventures has become a subsidiary of Honasa Consumer Limited, strengthening Honasa’s presence in the fast-growing men’s grooming and personal care segment.
Strategic Expansion in Men’s Grooming Segment
The acquisition aligns with Honasa Consumer’s long-term strategy of portfolio diversification and category expansion, particularly in high-growth segments such as men’s skincare, grooming, and wellness. Reginald Men has built a strong brand recall in the premium and mass-premium men’s personal care space, offering products across grooming, skincare, and daily-use categories.
Industry experts note that the men’s personal care market in India has been witnessing double-digit growth, driven by rising awareness, evolving lifestyle preferences, and increased digital-first brand adoption. By bringing Reginald Men under its umbrella, Honasa aims to leverage its strong distribution network, digital marketing expertise, and omnichannel presence to scale the brand further.
Focus on Synergies and Growth
Honasa Consumer stated that the acquisition is expected to unlock operational and marketing synergies, while enabling faster product innovation and deeper market penetration. The company also reiterated that the transaction is in line with its capital allocation strategy and growth roadmap.
The deal marks another significant step in Honasa’s journey as it continues to expand beyond its core brands and strengthen its leadership position in India’s competitive FMCG and D2C landscape.
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