Honasa Consumer Ltd, the parent company of Mamaearth, has announced a major strategic move with its entry into the men’s grooming and personal care category through the acquisition of a 95% stake in Reginald Men. The brand, owned by Hyderabad-based BTM Ventures Pvt. Ltd. (BVPL), has been valued at an enterprise value of ₹195 crore on a no-cash, no-debt basis. The remaining 5% stake will be purchased through a secondary transaction 12 months after the initial deal closes.
According to Honasa’s stock exchange filing, the transaction is expected to be completed within the next four weeks. BVPL, incorporated in 2022, has demonstrated strong revenue momentum, recording ₹20.15 crore in FY25 and ₹74 crore in trailing 12-month revenue as of October 2025. Reginald Men has emerged as a prominent player in South India, with over 80% of its sales coming from the region, backed by high repeat purchases and a loyal consumer base.
The acquisition marks Honasa’s aggressive expansion into a high-growth category. India’s men’s personal care market is projected to surpass ₹40,000 crore by 2032, offering significant headroom for scale. Honasa believes Reginald Men’s strong regional presence and deep understanding of male grooming needs make it an ideal strategic fit.
Varun Alagh, Co-founder and CEO of Honasa Consumer, said the deal supports the company’s mission to shape the future of India’s beauty and personal care landscape.
The move also reflects a broader industry trend, with FMCG majors such as GCPL and Emami recently strengthening their portfolios through acquisitions in the men’s grooming space.
