Content-to-commerce unicorn The Good Glamm Group has completed the acquisition of a 100% stake in The Moms Co for an undisclosed sum, nearly three years after making its first investment in the mother and baby care brand.
In October 2021, the Good Glamm Group acquired a majority stake in The Moms Co. through a cash and stock deal, enabling partial exits for The Moms Co. founders Malika Sadani and Mohit Sadani as well as full exits for investors like DSG Capital and Saama Capital.
The remaining shares held by the founders were fully acquired by The Good Glamm Group over the last two years and the transaction is now complete, the firm said in a statement on Monday.
This comes a month after the Mumbai-based Good Glamm, also known as the ‘house of brands’ company for hawking a variety of items from content and cosmetics to baby products under separate brands, completed the acquisition of feminine hygiene brand Sirona Hygiene for ₹450 crore in an all-cash deal, ending the months-long dispute over non-payment of dues.
Mint had reported that Sirona Hygiene’s founders Deep Bajaj and Mohit Bajaj and investor IAN withdrew default notices filed against Good Glamm after the firm signed an agreement to make pending payments in accordance with the new timelines.
Good Glamm also recently increased its shareholding in other portfolio brands such as Organic Harvest and Winkl.
After leading the business for a year post-acquisition, The Moms Co. founders stepped down from day-to-day roles last year.
The brand has also expanded internationally, retailing in Carrefour and Lulu supermarkets in the UAE. It is now preparing to enter new international markets, the firm said.
“It has been wonderful to see the Good Glamm team integrate The Moms Co. across various functions and grow the brand over the last two years. We continue to cheer for and are excited for what lies ahead for The Moms Co. and The Good Glamm Group and wish the teams all the success in this next phase of growth,” Malika Sadani and Mohit Sadani, founders of The Moms Co, said.
The Good Glamm Group is backed by marquee investors such as Warburg Pincus, Prosus Ventures, L’Occitane, Bessemer Venture Partners, Accel, Amazon, Stride Ventures, Trifecta Capital, Ascent Capital, Alteria Capital, Tano Capital and the Mankekar Family Office. The company raised $30 million in March from existing investors.
Good Glamm operates across multiple verticals. The Good Brands Co. comprises beauty and personal care brands such as MyGlamm, St Botanica, The Moms Co., Organic Harvest and Sirona, while The Good Media Co. includes POPxo, ScoopWhoop, MissMalini, BabyChakra and Tweak India. The Good Creator Co. serves as an influencer platform alongside The Good Community.
Mint had earlier reported that the Good Glamm Group, a beauty products and content company, had slashed marketing expenditure, withdrawn discounts and downsized its workforce over the past year to achieve profitability ahead of its planned public market debut in 2025.
The company has also seen a series of senior-level exits this year. Sukhleen Aneja, chief executive officer of The Good Brand Co., part of the Good Glamm Group, joined Nykaa earlier this year. Priyanka Gill, co-founder in charge of the group’s media business, left to join early-stage venture capital firm Kalaari Capital.
Source: Mint