Latest News | HUL Completes Acquisition of Female Hygiene Brand VWash from Glenmark

New Delhi, Jun 26 (PTI) Leading FMCG player Hindustan Unilever (HUL) on Friday said it has completed the acquisition of VWash from pharma major Glenmark Pharmaceuticals.

The company, however, did not disclose the value of the transaction.

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The acquisition was announced in March and was subject to certain closing conditions, which have now been fulfilled, the FMCG firm said in a filing to BSE.

VWash was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene category backed by strong product proposition, consumer endorsements and brand building investments.

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HUL has acquired intellectual property rights including trademarks, design and knowhow related to the VWash brand worldwide, the company 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," HUL Chairman and Managing Director Sanjiv Mehta said.

With this acquisition, HUL is looking to scale up the brand by building awareness, driving penetration, leveraging distribution and enhance offering for chemist channel.

The shares of HUL were trading at Rs 2,149 apiece on BSE, down 1.15 per cent from their previous close. PTI SID SID ANS ANS 06261034 NNNNMA highlighted the slow return of sport in Europe without crowds and praised the leaders of Australian rules for their cautious approach tied to expert medical advice.

Stringent controls and early border closures have contributed to Australia having only 102 known deaths from COVID-19 and just over 7,100 reported cases.

The federal government has announced a three-phase plan to ease restrictions in the coming months, with the states and territories to determine their own timings. But social distancing and hygiene measures will be retained indefinitely. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)