Bajaj Consumer Care to acquire Vishal Personal Care at ₹108 crore enterprise valuation

FMCG firm Bajaj Consumer Care Ltd will acquire rival Vishal Personal Care, which owns hair & skin care brand Banjara's, at an enterprise value of ₹108.3 crore to deepen its penetration in the South Indian market.

The board of Bajaj Consumer Care Ltd (BCCL), which operates in the personal care space and owns the Bajaj Almond Drops brand, in its meeting held last Friday, approved the acquisition 100% stake in Vishal Personal Care in two tranches, a 49% in the first followed by remaining 51% in the second tranche.

"The estimated transaction value stands at ₹120 crore, with an enterprise value of approximately ₹108.3 crore," BCCL said in a statement.

This move aligns with BCCL's vision to expand its footprint across Indian markets, leveraging the growing demand for natural and Ayurvedic personal care products, it added.

Banjara's, founded in 1991 in Hyderabad, has a diversified product portfolio, including facial kits, herbal powders, aloe vera gels, shampoos, and hair care powders.

Its products have a retail presence of over 70,000 outlets across the five South Indian markets through cosmetics stores, supermarkets, pharmacies, and grocery chains.

"With the acquisition of Vishal Personal Care, BCCL will be leveraging Vishal's extensive distribution network to deepen their penetration in South India," BCCL said, adding that it "will also introduce brand Banjara's products in its stronghold Hindi-speaking markets (HSM), effectively doubling its reach in both the regions."

BCCL Managing Director Jaideep Nandi said: "Acquisition of Vishal Personal Care Pvt. Ltd. is a strategic step in strengthening BCCL's footprint in the five southern markets. The addition of Banjara's to our portfolio enhances our ability to serve the evolving consumers across India, while also complementing our product range for further expansion."

BCCL is a part of the $2.5 billion Bajaj Group, which operates in sugar, ethanol, power and consumer care businesses.