Hindustan Unilever Limited (HUL) has completed the acquisition of VWash from Glenmark Pharmaceuticals
Today, Hindustan Unilever (HUL) said it has completed the acquisition of VWash from pharma major Glenmark Pharmaceuticals. The company, however, did not disclose the value of the transaction.
‘VWash’ was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene category backed by strong product proposition, consumer endorsements, and brand building investments.
The acquisition was announced in March and was subject to certain closing conditions, which have now been fulfilled, HUL said in a filing to BSE.
“It has acquired the intellectual property rights including trademarks, design, and knowhow related to the VWash brand worldwide” said HUL.
Commenting on the acquisition, HUL Chairman and Managing Director Sanjiv Mehta said, “VWash acquisition is strategic and gives us an entry into rapidly growing female intimate hygiene segment. It enables us to serve consumer needs through scientific solutions. This acquisition is also timely given heightened focus on health and hygiene,”
“We believe that HUL is well-positioned to further scale up this brand given the strength of our market development and distribution capabilities,” he added.