Founded in 2009, and based in Ahmedabad, Brillare Science produces hair and skin care products, and sells them to professional salons. It owns popular brands 'Brillare Science', 'Elementi Puro' and 'Root Deep'.
The General Corporate Practice of Shardul Amarchand Mangaldas advised Emami Limited and was involved in conducting due diligence, structuring the transaction, negotiations, drafting and finalisation of the shareholders' agreement, share subscription agreement and the amended articles of Brillare Science and for taking the transaction to completion.
The M&A Team of Shardul Amarchand Mangaldas was led by Sakshi Mehra, Partner; Victor Mukherjee, Principal Associate; Dipayan Bhattacherjee, Associate; and Smita Tejaswee, Associate.
As a part of the transaction, Emami Limited has agreed to subscribe to compulsory convertible preference shares of Brillare Science in two tranches which upon conversion will result in Emami Limited holding a 26 percent equity stake in Brillare Science. Bon Proximo acted as the financial advisors to Brillare Science in the transaction.
The deal was signed on February 5, 2018. The first closing happened on February 5, 2018, and the final closing is subject to necessary approvals and fulfillment of certain conditions precedent.
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