Honasa Consumer Private Limited (HCPL), the parent company of Mamaearth, has acquired a 63 percent stake in premium skincare brand Dr Sheth's.
The acquisition will help the natural products company Honasa Consumer to strengthen its position in the personal care segment.
Founded in 2016, Honasa Consumer sells skincare products under various consumer brands including Mamaearth, The Derma Co, Aqualogica and Ayuga.
It joined the unicorn club early this year at a valuation of USD1.07 billion following a USD52 million funding round led by Sequoia Global.
L&L Partners acted as legal adviser to the New Delhi-based Honasa Consumer on the acquisition. The team was led by Partner Nitin Gera and supported by Senior Associate Shruti Barua and Associates Ayush Singh and Ruthvik Tumuluri.
Bombay Law Chambers, led by partner Abhinav Harlalka, advised Dr. Sheth's.