Breaking News: Good Glamm Group Strikes Landmark Rs 450 Cr All-Cash Deal to Acquire Sirona Hygiene!
Good Glamm Group Acquires Sirona Hygiene for Rs 450 Crore
In a landmark cash deal, beauty and personal care giant Good Glamm Group has acquired Sirona Hygiene for Rs 450 crore (approximately $60 million), marking a significant exit for a direct-to-consumer startup in India’s FemTech sector. Sirona co-founders Deep Bajaj and Mohit Bajaj, who stepped down earlier this year, have resigned as directors, ushering in a new phase for the brand.
Good Glamm Group’s CEO, Darpan Sanghvi, emphasized the alignment of both companies’ goals in empowering women through innovative health solutions. The deal not only highlights the market’s confidence in Sirona’s approach but has also benefited its employees with accelerated ESOP vesting.
Launched in 2014-15, Sirona has led the market with a range of innovative women-centric products, from PeeBuddy, a stand-and-pee device used by over 3 million women, to menstrual cups offering an alternative to pads for 4 million women. Co-founder Deep Bajaj cited the acquisition as a validation of the hard work and challenges the brand faced, including bootstrapping and overcoming taboos.
Good Glamm’s prior investment of Rs 100 crore in Sirona in 2022 yielded high returns for early investors, with Sirona tripling its revenue within two years. The Sirona Foundation has also educated over 100,000 girls on menstrual hygiene and distributed over 10,000 menstrual cups to those in need.
Sirona has seamlessly integrated technology into its offerings, launching India’s first WhatsApp period tracker and establishing an online community. It has installed feminine hygiene vending pods at Delhi airport, acquired the women’s safety brand IMpower, and introduced BLEU, the country’s first vegan condom brand.
Reflecting on the journey, Mohit Bajaj described the acquisition as both bittersweet and a proud validation of a decade’s work, spotlighting the brand’s mission and perseverance against the odds.
Original Story https://www.business-standard.com/companies/news/good-glamm-group-acquires-sirona-hygiene-for-rs-450-cr-in-an-all-cash-deal-124101001130_1.html
Category :
Tags:
