MUMBAI; Bajaj Consumer Care, one of India's oldest and most trusted FMCG companies with a 70-year legacy, has planted its flag firmly in the herbal beauty market by completing the first phase of its acquisition of Vishal Personal Care, maker of the popular Banjara's range of natural beauty products.
The company announced today it has secured a 49 per cent stake in the Hyderabad-based manufacturer, with plans to acquire the remaining 51 per cent within the next three to four months, subject to regulatory approvals.
The deal, valued at approximately Rs 120 crore for complete ownership, gives Bajaj immediate access to Banjara's burgeoning business of ayurvedic and herbal personal care products, which generated revenues of Rs 51.53 crore in the 2023-24 financial year.
"This strategic acquisition perfectly aligns with our growth ambitions in the natural beauty segment," said Bajaj Consumer Care managing director Jaideep Nandi. "Banjara's botanical brilliance and strong southern presence provides us with both product prowess and geographical growth opportunities, complementing our existing portfolio of trusted brands like Bajaj Almond Drops Hair Oil and Nomarks."
Established in 2012, Vishal Personal Care has shown consistent revenue growth, climbing from Rs 39.43 crore in 2021-22 to Rs 45.36 crore in 2022-23, before reaching Rs 51.53 crore last year.
The Banjara's brand is particularly well-established in southern India, offering more than 60 products including rose water, face washes, hair oils and natural henna. The company operates a manufacturing facility in the outskirts of Hyderabad with Ayush licensing for ayurvedic and herbal production.
The acquisition comes as Bajaj Consumer Care continues its expansion beyond its flagship hair oil products. Part of the storied Bajaj group, the company has been an integral part of the Indian consumer experience for over seven decades, with its products reaching households across the country and international markets.
Industry analysts note that Bajaj's herbal handshake with Banjara's could create competitive challenges for established players in the natural beauty space, particularly given Bajaj's extensive distribution network currently being optimised through Project Aarohan.
"This acquisition crowns Bajaj with credible credentials in the fast-growing natural beauty segment," said a market analyst from a leading brokerage firm. "The company can now harness Banjara's herbal heritage while leveraging its own distribution dominance and the trust it has built over generations."
The purchase agreement was originally approved by Bajaj's board on 14 February, involving Peepul Capital Fund III LLC as the selling majority shareholder.
Bajaj Consumer Care indicated that the acquisition will accelerate its innovation pipeline and new product launches in the five southern states, while providing access to Vishal's robust sales processes and experienced management team.
This move into herbal beauty aligns with Bajaj's recent quarterly reports highlighting the company's focus on diversification and strengthening its modern trade and e-commerce channels, which have shown robust growth despite challenges in traditional general trade segments.
