Marico will make strategic investment in Zed Lifestyle with an acquisition of 45% equity stake for an undisclosed consideration. The equity stake shall be acquired over a period of two years, through primary infusion and secondary buy-outs.
Zed Lifestyle owns ‘Beardo’, a fast-growing male grooming brand founded by entrepreneurs Ashutosh Valani and Priyank Shah in June 2016 in Ahmedabad, India. This investment in Zed Lifestyle is a stepping stone towards Marico’s ambition of strengthening its presence and widening its portfolio in this segment.
Marico is a consumer products company operating in the beauty and wellness space. The company’s principal products include edible oils and value added hair oils.