Marico to acquire 62% stake in a ayurvedic beauty products company Apcos Naturals

Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals the company that owns the brand Just Herbs (hereinafter referred to as Apcos Naturals) and a Share Purchase Agreement with its existing promoters and shareholders, to make a strategic investment in Apcos Naturals by acquiring / subscribing 60 % of the total paid-up share capital in the form of Equity Shares and Compulsorily Convertible Preference Shares (CCPS) of Apcos Naturals.

The Company shall acquire 52.4% of the total paid-up share capital by 31 July 2021 and accordingly Apcos Naturals shall become a subsidiary of the Company. The Company will acquire the balance stake of 7.6% by 31 March 2023 as per the conditions set out in the Shareholders agreement signed between the parties.

 

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