Cipla Limited Expands Portfolio with Ivia Beaute Acquisition

On April 15, 2024, Cipla Ltd announced in a stock exchange filing that the company’s wholly-owned subsidiary, Cipla Health Limited (CHL), has signed a business transfer agreement (BTA) to purchase the distribution and marketing business undertaking of the cosmetics and personal care business of Ivia Beaute Private Limited, India (IVIA). This undertaking includes IVIA’s brands, Astaberry, Ikin, and Bhimsaini worldwide.

This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio. Brands of Ivia complement Cipla Health Limited’s offerings in the skin care segment and shall enhance the portfolio with trusted and effective solutions for consumers.

As per the exchange filing, the transaction is expected to be completed within 60 days from the signing of the business transfer agreement or other date mutually agreed upon between the parties in writing. It shall be subject to successful completion/waiver of the conditions precedent and closing conditions as mentioned in such BTA.

The acquisition cost for the shares amounted to ₹130 crore on the closing date, with an additional ₹110 crore contingent upon meeting specific financial milestones over the next three years as outlined in the business transfer agreement.

Chief Executive Officer and Whole Time Director of CHL, Shivam Puri, said, “This move not only solidifies our presence in the expansive and dynamic beauty and personal care sector but also builds on our well-established footprint in Tier 2-6 cities.”

He further added, “Our target consumer base is discerning and seeks variety, especially when it comes to new brands in personal care. Integrating Astaberry, Ikin and Bhimsaini into our portfolio seamlessly complements our existing offerings across key OTC/consumer healthcare categories, empowering us to deliver comprehensive solutions that cater effectively to the diverse everyday needs of our consumers.”

Cipla Limited stated that Cipla Health Limited, through this acquisition, is well-positioned to tap the beauty and personal care category owing to its strong offline and online distribution muscle and consumer insights engine that has already helped create over 20 strong brands within the portfolio across all key categories, which includes Cough and Cold Therapies (Cofsils and Naselin), Smoking Cessation (Nicotex), Pain Care (Omnigel), Oral Rehydration Therapy/ Beverages (Prolyte), Topical Antiseptics (Cipladine), Vitamins, Minerals and Supplements (Maxirich), Antifungal solutions (Clocip), and more.

About Cipla Ltd

Cipla is a global pharmaceutical company that focuses on agile and sustainable growth, complex generics, and strengthening portfolios in various regions, such as India, North America, South Africa, etc.

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