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Honasa Consumer, the Indian personal care firm and parent company of brands such as Mamaearth and The Derma Co, has acquired the assets of CosmoGenesis Labs for 40 million INR ($479,000).
Thane-based CosmoGenesis Labs is a specialist in cosmetic formulation and development, having supported over 5,000 personal care formulations for businesses in India. The acquisition includes the company’s formulation expertise, research and development (R&D) laboratory, and a small-scale manufacturing facility. Rohini Manoj, the founder of CosmoGenesis, will join Honasa Consumer as vice president of R&D.
Ghazal Alagh, CIO and co-founder of Honasa Consumer, commented: “This strategic alliance with CosmoGenesis will exponentially increase our ability to research new trends with greater efficiencies and help craft best-in-class products. This acquisition empowers us to tap into new sub-categories, leverage cutting-edge research and development, and ultimately, deliver exceptional value to our consumers”.
The deal follows a series of strategic investments by Honasa Consumer to bolster its portfolio, which currently includes seven brands: Mamaearth, The Derma Co, Aqualogica, BBlunt, Dr Sheth’s, Ayuga, and the recently launched colour cosmetics brand Staze. The company previously acquired hair care brand BBlunt in 2022 to expand its footprint in the professional styling segment.
Source: NDTV Profit / TVW News India / The Startup Spectrum
