Honasa Consumer acquires Reginald Men in USD 21.5M deal
Investors are closely watching the integration and execution of the acquisition as indicators of future value creation for Honasa Consumer
INDIA – Honasa Consumer, the parent company of Mamaearth, has made a strategic move into the men’s grooming market by acquiring BTM Ventures Pvt Ltd, the owner of the Reginald Men brand, in a deal valued at ₹195 crore (USD 21.5 million).
The acquisition involves Honasa purchasing a 95% stake in BTM Ventures through a secondary sale, with the remaining 5% to be acquired after 12 months, subject to pre-agreed valuation terms.
Trisha Reddy Talasani called the acquisition a significant milestone for the brand. “Joining hands with Honasa Consumer and its visionary founders, Ghazal and Varun, is a landmark moment for us.”
“Our shared passion for innovation and commitment to excellence forge a strong partnership, and I am excited to elevate our brand to new horizons collaboratively.”
Reginald Men, founded in August 2022 by Trisha Reddy Talasani, specializes in grooming and skincare products tailored for men, including sunscreens and serums.
The brand has achieved a revenue of approximately ₹70 crore (USD 7.72 million) in the last twelve months, with a strong EBITDA margin of around 25%.
Most of Reginald Men’s revenue comes from South India, giving Honasa immediate access to regional consumer insights and a proven marketing playbook for the area.
This acquisition marks Honasa’s formal entry into the rapidly expanding men’s personal care segment, a market projected to double to over ₹40,000 crore (USD 4.41 million)by 2032.
The move is expected to strengthen Honasa’s distribution reach and accelerate its market share in southern India, while also diversifying its portfolio with purpose-driven brands across multiple demographics.
Honasa’s leadership believes the deal will create significant value through omnichannel expansion and new product categories, aiming for a revenue opportunity of ₹500 crore (USD 55.1 million) and beyond.
The transaction is seen as a calculated expansion that aligns with Honasa’s strategy of building a multi-brand personal care platform positioned for sustained growth in a competitive FMCG landscape.
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