Honasa To Acquire Men’s Personal Care Brand Reginald For INR 195 Cr

Continuing its acquisition spree, beauty and personal care (BPC) major Honasa Consumer said that it is now acquiring men’s grooming brand Reginald Men parent BTM Ventures Pvt Ltd (BVPL) for INR 195 Cr.

The company will buy a 95% stake via secondary purchase at a “no-cash no-debt” enterprise value, with the remaining 5% to be acquired after 12 months of closing. The deal is expected to conclude within four weeks.

Founded in 2022 by Trisha Reddy Talasani, Reginald Men sells sunscreen, moisturiser, and hair and face serums, and derives 80% of its sales from South India. BVPL reported INR 74 Cr turnover in FY26 (till October 2025), an EBITDA of INR 18 Cr and an EBITDA margin of 24%. Important to highlight that Reginald was a part of Inc42’s D2CX cohort.

In a statement, the BPC major said that the acquisition marks its strategic entry into the rapidly growing men’s personal care category, a segment it expects to double to over INR 40,000 Cr by 2032.

Given Reginald’s strong hold in Southern India, the Mamaearth parent expects to strengthen its position in the market. Besides, the company is eyeing an over INR 500 Cr revenue opportunity, driven by new categories and deeper omnichannel expansion.

This comes as Honasa continues to double down on inorganic expansion. Recently, it acquired a 25% stake in Fang Oral Care for INR 10 Cr and entered the premium night-time skincare brand with the launch of Luminéve. Its existing portfolio spans Aqualogica, Dr Sheth’s, The Derma Co, and BBlunt, among others.

The acquisition also aligns with the company’s sharper focus on core or “focus categories” – face cleanser, face serum, sunscreen, moisturiser and shampoo. These categories contributed 75% of Honasa’s Q2 FY26 revenue across about half a dozen brands.

During the Q2 earnings call, CEO Varun Alagh stressed that non-core categories are declining in revenue contribution and would continue to shrink as the company scales its core categories.

Among its portfolio brands, The Derma Co has emerged as Honasa’s second-largest play after Mamaearth, and the management said it is on track to hit INR 750 Cr in annual revenue based on Q2 FY26 run rate. While its facewash share remains in low single digits, the brand is seeing deeper penetration in sunscreen and face serums — two of Honasa’s highest-priority categories.

Source: Inc42 Datalabs

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Honasa refrained from sharing brand-wise revenue, but said its acquired brands grew 20% YoY in Q2 FY26, in line with the company’s strategy of layering new brands onto its distribution and formulation infrastructure.

Overall, Honasa Consumer posted a consolidated profit of INR 39.2 Cr in the quarter as against a loss of INR 18.6 Cr in the year-ago quarter. Its top line rose 17% to INR 538.1 Cr from INR 461.8 Cr in Q2 FY25.

Shares of Honasa Consumer ended today’s trading session 0.5% lower at INR 265.5.