Mumbai (IANS) Hindustan Unilever Limited (HUL) on Friday announced that it has completed the acquisition of intimate hygiene brand VWash from Glenmark Pharmaceuticals Ltd.
In a regulatory filing, HUL said that it has acquired the intellectual property rights including trademarks, design and knowhow related to the VWash brand worldwide.
The acquisition was announced on March 23, 2020 and was subject to certain closing conditions, which have now been fulfilled, it said.
With this acquisition, HUL can unlock significant synergies and scale up the brand by building awareness, driving penetration, leveraging distribution and enhance offering for chemist channel, it said.
Commenting on the acquisition, Sanjiv Mehta, Chairman & Managing Director of HUL, said: "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."
"We believe that HUL is well positioned to further scale up this brand given strength of our market development and distribution capabilities," it said.
The company, however, did not disclose the transaction value involved.
VWash was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene category.