Initially, Honasa will acquire a 95 per cent stake via a secondary purchase at an enterprise value of Rs 195 crore, subject to closing adjustments
Honasa Consumer, a beauty and personal care House of Brands, has acquired BTM Ventures, the parent company behind Reginald Men. As part of the transaction, Honasa will acquire a 95 per cent stake via a secondary purchase at an enterprise value of Rs 195 crore, subject to closing adjustments.
The remaining 5 per cent to be acquired after 12 months based on pre-agreed valuation criteria, the company said in a regulatory filing. Reginald Men, a premium personal care brand for men, offers a curated range of men’s products, across personal care, especially sunscreen and serum, which is a focus category for Honasa. In the last twelve-month period (November 2024 to October 2025), the brand has done over Rs 70 crore top line with nearly 25 per cent ebitda.
“The men’s personal care category is evolving rapidly and Reginald Men’s deep insight into this segment, especially its nuanced understanding of what today’s male consumers seek, makes them a strong strategic fit for us. This acquisition further strengthens our mission of shaping the future of India’s beauty and personal care landscape,” stated Varun Alagh, Co-founder and Chief Executive Officer (CEO), Honasa Consumer.
The acquisition marks a strategic expansion into the rapidly growing men’s personal care category and further strengthens Honasa’s presence in the South Indian market, where Reginald Men currently derives the majority of its revenue.
Trisha Reddy Talasani, Founder, BTM Ventures, noted, “Joining hands with Honasa Consumer and its visionary founders, Ghazal and Varun, is a landmark moment for us. Our shared passion for innovation and commitment to excellence forge a strong partnership and I am excited to collaboratively elevate our brand to new horizons.”
With this addition, Honasa gains access to deep consumer insights, proven marketing playbooks, and strong brand resonance in the region, the statement added. The brand also adds strength in categories like sunscreen and serums, which are focus categories for Honasa Consumer.
