Marico Limited announced it has acquired an additional stake of 4.14% in Apcos Naturals. Post acquisition, Marico will hold 56.52 per cent stake in the company.
According to the company’s exchange filing, “We refer to our letter dated July 14, 2021 informing that Marico Limited (“Company”) has entered into definitive agreements to make a strategic investment in Apcos Naturals Private Limited, an entity that owns the brand “Just Herbs” (hereinafter referred to as “Apcos Naturals”). Pursuant to the same, the Company had acquired 52.38% of the equity capital of Apcos Naturals, thereby making it a subsidiary. As per the terms of the aforesaid definitive agreements, the Company has now acquired an additional stake of 4.14% of the equity capital of Apcos Naturals, thereby increasing its equity stake to 56.52%.”
Apcos Naturals is into beauty & personal care segment under the brand name “Just Herbs” and is a full stack Direct to Consumer Ayurvedic beauty brand.
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