Minimalist acquired by Hindustan Unilever
Hindustan Unilever acquired Minimalist, an Indian beauty and skincare brand, on Jan 22, 2025.
Transaction summary
- Target
- Minimalist
- Acquirer
- Hindustan Unilever
- Seller
- -
- Announced
- 2025-01-22
- Geography
- India
- Tags
- BeautyBeauty And SkincareConsumerIndiaSkin Care
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 91%
- First added
- 2026-08-11
- Latest update
- 2026-08-11
Value and multiples
100% enterprise value
INR 30B
100% enterprise value | INR
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
Approx. $342M USD using FX date 2025-01-22 at 0.0116 INR/USD.
EV / revenue
5.91x
Period: FY2025 2025
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: Derived from source data
Basis
- INR 30bn pre money enterprise value is treated as publicly disclosed or derived directly from public source data.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Implied EV / revenue is 5.91x, calculated from INR 30bn value and INR 5.0bn revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- ₹29.55bn / ₹5.0bn = 5.91x FY2025 turnover.
Source summary
HUL acquisition of Minimalist investor presentation
ConfirmedHUL to acquire 90.5% stake in Minimalist at a pre-money Enterprise Value of INR 2,955 crores
Open sourceHUL FY2024-25 performance highlights
ConfirmedMinimalist crossed an annual turnover of ₹500 crores in FY2025.
Open sourceHUL investor presentation July 2025
ConfirmedCompletion of acquisition of 90.5% stake in Minimalist at a consideration of INR 2,706 crores
Open source