HUL Completes Acquisition Of VWash From Glenmark
VWash Plus holds leading position in initmate hygiene category with more than 50% market share.
Hindustan Unilever Ltd. has completed the acquisition of hygiene wash brand VWash from Glenmark Pharmaceuticals Ltd.
“VWash acquisition is strategic and gives us an entry into rapidly growing female intimate hygiene segment. It enables us to serve consumer needs through scientific solutions. This acquisition is also timely given heightened focus on health and hygiene,” Sanjiv Mehta, chairman and managing director of India's largest consumer goods maker, said in a statement. HUL, he said, is well positioned to scale up VWash given the strength of its market development and distribution capabilities.
HUL had agreed to buy the brand from Glenmark Pharmaceuticals, including intellectual property rights, trademarks and design on March 23. At the time, HUL said it would make most of the payment in cash upfront as well as pay a royalty on sales for three years. The companies, however, did not disclose financial details.
HUL can unlock significant synergies and scale up the brand by building awareness, driving penetration, leveraging distribution and enhance offering for chemist channel, the company said.
VWash Plus has a more than 50% market share in the segment., according to Glenmark Pharmaceuticals' 2019 annual report that cited data from IQVIA.