Honasa Consumer to acquire 58% of Fluence Pharma at Rs 135 cr EV, enters Rs 16,000 cr supplements market
Mamaearth parent forms new subsidiary Honasa Health to enter nutraceuticals via Fluence Pharma buyout. Deal pegs 58% stake at Rs 135 cr EV, with remaining 42% over 5-7 years. Fluence guides Rs 40 cr FY26 revenue at 20%+ EBITDA margin, with reach across 3,000+ dermatologists.
What happened
Honasa Consumer, parent of Mamaearth, will acquire 58% of nutraceuticals firm Fluence Pharma at Rs 135 crore EV, with remaining 42% over 5-7 years, marking its
Key facts
- 58% stake
- Rs 135 crore EV
- 42% remaining in 5-7 years
- Rs 16,000 crore market
- Rs 40 crore FY26 revenue
- 20%+ EBITDA margin
- 3,000+ dermatologists
Why this matters
The staggered 58/42 structure over 5-7 years with EBITDA-linked earn-outs is a textbook category-entry playbook—locking in founder alignment while preserving optionality on the residual stake as Fluence scales.