Good Glamm is in talks to buy Raymonds consumer care business

Mumbai: The Good Glamm Group is in advanced talks to acquire the Raymond Groups consumer care business, which houses the Park Avenue and KamaSutra brands, three people with knowledge of the deal said.

The cash-and-stock deal, pegged at around Rs 2,500-Rs 2,800 crore, is expected to be one of the largest acquisitions in the beauty and personal care segment.

This acquisition will mark Good Glamms entry into the mens personal care and sexual wellness category, one source said.

Another source said the Raymond Group as well as its promoters will end up owning a minority stake in the Good Glamm Group as part of the deal.

Raymond Group is expected to carve out its consumer care business before any potential sale, one of the sources said.

As per the company policy, we do not comment on market speculation. However, to enhance shareholder value, we keep evaluating all options available to us, a spokesperson for the Raymond Group said in response to ETs email.

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A spokesperson for the Good Glamm Group declined to comment.