HUL to acquire 90.5% majority stake in Minimalist from Peak XV Partners and and Surge Ventures.

HUL, a consumer goods company, agreed to acquire 90.5% majority stake in Minimalist, a beauty brand, from Peak XV Partners, a venture capital and growth investing firm, and Surge Ventures, a new SaaS venture studio, for $35m. “We are delighted to welcome Minimalist into the HUL family. This acquisition is another key step to grow our Beauty & Wellbeing portfolio in high-growth premium demand spaces. Mohit, Rahul and the team have created a great brand built on science, product efficacy and transparency,” Rohit Jawa, HUL CEO and Managing Director.