Leading FMCG player Hindustan Unilever (HUL) on Friday said it has completed the acquisition of VWash from pharma major Glenmark Pharmaceuticals.
The company, however, did not disclose the value of the transaction.
The acquisition was announced in March and was subject to certain closing conditions, which have now been fulfilled, the FMCG firm said in a filing to BSE.
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.
HUL has acquired intellectual property rights including trademarks, design and knowhow related to the VWash brand worldwide, the company 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 the heightened focus on health and hygiene,” HUL Chairman and Managing Director Sanjiv Mehta said.
With this acquisition, HUL is looking to scale up the brand by building awareness, driving penetration, leveraging distribution and enhance offering for chemist channel.
The shares of HUL were trading at ₹2,149 apiece on BSE, down 1.15% from their previous close.