Honasa Consumer Limited has expanded its portfolio by acquiring Reginald Men, a premium personal care brand for men. The acquisition allows Honasa to enter the fast-growing men’s personal care category. Reginald Men, launched in August 2022, offers curated men’s personal care products with sunscreens as its core offering. Honasa acquired a 95% stake in Reginald Men for ₹195 Cr.
Strategic Acquisition
Honasa Consumer Limited has strategically acquired Reginald Men, marking its entry into the men’s personal care category. This move is aimed at capitalizing on the rapidly growing men’s grooming market.
About Reginald Men
Reginald Men is a premium personal care brand launched in August 2022. It focuses on curated men’s personal care products, with sunscreens being its core offering. It has gained significant traction, particularly in South India. It is the #1 searched Men’s Sunscreen brand on Google.
Rationale for the Acquisition
The Indian men’s personal care market is experiencing rapid growth with premiumization and is projected to reach INR 40K Cr+ by 2032. This acquisition will strengthen Honasa’s market share, especially in southern states.
Deal Terms
Honasa will acquire a 95% stake in Reginald Men via secondary purchase at a ₹195 Cr enterprise value. The remaining 5% will be acquired after 12 months based on pre-agreed valuation criteria.
Financial Highlights
Trailing Twelve Months (Oct’25 ended):
Net Revenue: 74 Cr
GM%: 72%+
EBITDA: 18 Cr
EBITDA %: 24%
Future Opportunities
Honasa anticipates multiple levers to unlock a ₹500 Cr+ revenue opportunity through category expansion, channel expansion, and geographic expansion.
Source: BSE
