Hindustan Unilever (HUL) has picked up a 90.5% stake in beauty and skincare brand Minimalist in a deal that values Minimalist at a pre-money enterprise value of Rs 2,955 crore. HUL plans to acquire the remaining 9.5% stake in the business from its founding brothers Mohit and Rahul Yadav in the coming two years. 

The acquisition deal is subject to both regulatory approvals and customary closing conditions and is expected to be concluded by the second quarter of the 2025 calendar year, ET Online reported. Following the acquisition, Mohit and Rahul Yadav will continue to run Minimalist’s operations for two years.

Based in Jaipur, Minimalist launched in 2018 as a direct to customer skincare, haircare, and body care brand with a dedicated e-commerce store. The brand’s latest product launches range from healing ointments and relief sprays to liposomal creams. 

The move is part of HUL’s plan to bolster its premium and direct to customer beauty brand offering in line with the growing consumer demand for the categories in India.

Minimalist products are designed to target specific skincare concerns including acne, oil, uneven tones, wrinkles, and hair fall among others, according to its website.