Hindustan Unilever acquires VWash
Mumbai-based company Hindustan Unilever Limited (HUL) has signed an agreement with Glenmark Pharmaceuticals to acquire its intimate hygiene brand VWash together with intellectual property rights including trademarks, design and know-how.
Under the terms of the agreement, HUL will make an upfront cash payment upon closing of the deal and a deferred consideration over the next three years. The two companies, however, have not disclosed the total transaction amount.
Glenmark will continue to manage the business until the transaction is completed, and will also continue to manufacture for HUL for an agreed period of time. The proposed acquisition is in line with HUL’s strategic intent to enter fast-growing segments in the premium Beauty & Personal Care category.
