Consumer goods major Hindustan Unilever (HUL) on Monday announced the acquisition of intimate hygiene brand VWash from Glenmark Pharmaceuticals for an undisclosed sum.
The deal would include an upfront cash payment and a staggered payout over the next three years, HUL's chief financial officer Srinivas Phatak said in a conference call on Monday.
The acquisition, which includes intellectual property, trademark and design of the brand, would be completed in two months, said Phatak. It was in line with HUL's strategy of filling gaps within its beauty and personal care portfolio, he said.
“The acquisition gives us a presence in the pharmacy trade channel. We are already widely present in general trade. We now have VWash in addition to health food drinks Horlicks and Boost as well as the distribution of GSK products such as Sensodyne and Crocin to help enhance our presence within pharmacies,” Phatak said.
Glenmark will manufacture VWash for HUL over the next one year after which the production arrangement would be reviewed, he said.
VWash was launched by Glenmark in 2013 and has established itself as the market leader in the female intimate hygiene market, an emerging category.