New Delhi: Honasa Consumer Ltd, the parent company of beauty and personal care brands such as Mamaearth and The Derma Co, will acquire 58 per cent stake in nutraceuticals firm Fluence Pharma at an enterprise value of Rs 135 crore, as per a joint statement.
The deal will mark Honasa Consumer's entry into the fast-growing health and wellness supplements market.
As part of the deal, Honasa Consumer "will acquire a majority 58 per cent equity stake of Fluence Pharma via secondary purchase at Rs 135 crore enterprise value, subject to closing adjustments and completion of conditions precedent," the statement said.
The company will acquire the remaining 42 per cent stake of Fluence Pharma via secondary purchase in two tranches over the next 5-7 years from completion of acquisition.
"This strategic acquisition marks Honasa's entry into the high-growth nutraceuticals space, reinforcing its commitment to building science-backed solutions that address evolving consumer needs across "inside-out' beauty," it said.
Fluence Pharma, a science-backed nutraceuticals company, is known for its differentiated and patented Cyclical Nutrition Therapy and strong dermatologist-led distribution network.
India's nutraceuticals market, valued at over Rs 16,000 crore, is at an "inflection point" in India, driven by rising consumer demand. It is witnessing strong growth as consumers increasingly seek holistic "beauty-from-inside" solutions and become more aware of nutritional deficiencies, the statement said.
Honasa will establish a wholly-owned subsidiary, Honasa Health Pvt Ltd, through which it will scale its B2C nutrition portfolio by combining Fluence's patented clinical science with its own expertise in brand building, consumer insights, and digital-first distribution.
Commenting on the development, Co-founder and CEO Varun Alagh said:"The beauty and personal care landscape is entering a new era where consumers are increasingly seeking holistic, inside-out solutions that address beauty concerns at their root."
He said the company sees nutraceuticals as a natural extension of its science-led beauty portfolio and expects the move to diversify its growth engine.
Founded by Amit Bhusari and dermatologist Rajendra Singh Rajput, Fluence Pharma develops over-the-counter nutritional supplements for hair and skin conditions based on its patented CNT technology. The company is backed by a network of more than 3,000 dermatologists across India.
Fluence Pharma reported a revenue of around Rs 40 crore in FY26 and posted an EBITDA margin of over 20 per cent.
Bhusari said the partnership with Honasa would help expand the reach of Fluence's clinically validated products through stronger consumer distribution and digital capabilities.
Honasa Health will be led by Dheeraj Nagpal, former co-founder of nutraceutical brand Zingavita, who has also held leadership roles at Zomato and American Express.
