Cipla to invest Rs 130 crore to acquire Ivia Beaute's business
Pharmaceutical company Cipla has informed acquiring of the cosmetics and personal care distribution and marketing business of Ivia Beaute Pvt Ltd. The deal also includes the latter's brands Astaberry, Ikin, and Bhimsaini. As per information, the deal is worth Rs 130 crore. The wholly owned subsidiary and consumer healthcare arm of Cipla Health Ltd (CHL) has signed a Business Transfer Agreement (BTA) to purchase the distribution and marketing business undertaking of the cosmetics and personal care business of Ivia Beaute Pvt Ltd.
The move is aligned with Cipla's focus on enhancing its consumer healthcare and wellness portfolio.
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