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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteHindustan Unilever Limited (HUL) completed its acquisition of a 90.5% stake in Minimalist on 21 April 2025. HUL disclosed a pre-money enterprise value of ₹2,955 crore and a ₹45 crore primary infusion—not a ₹2,955 crore cash payment for the stake. The often-quoted “over $340 million” figure is a headline valuation shorthand used by trade coverage, not the disclosed cash consideration for the shares acquired.
Did HUL buy Minimalist?
Yes. HUL announced on 22 January 2025 that it had signed a definitive agreement to acquire 90.5% of Minimalist, and Unilever’s 2025 annual filing records that the acquisition was completed on 21 April 2025. HUL also announced a path to acquire the remaining 9.5% from the founders in two years; the cited completion disclosure confirms the 90.5% acquisition, not that the additional stake has since transferred. HUL’s announcement and Unilever’s annual filing describe the agreement and completion, respectively.
How much did HUL pay for Minimalist?
HUL disclosed a pre-money enterprise value of ₹2,955 crore and a primary infusion of ₹45 crore in its transaction presentation. Enterprise value is a valuation measure; it should not be described as the cash price HUL paid to acquire 90.5% of the company. The ₹45 crore was a primary infusion into the business, distinct from secondary buyouts of existing shares. HUL’s transaction announcement does not state a single cash consideration for the acquired stake.
BeautyMatter described the transaction as a $340 million acquisition. That headline figure is useful as a shorthand for the deal’s reported scale, but it is not the same metric as cash consideration paid for the 90.5% stake. The available official materials do not allocate proceeds to individual selling shareholders, including Peak XV. BeautyMatter’s coverage uses the dollar headline while HUL’s materials disclose the enterprise value and deal structure.
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- [ SUPPORTS EVEN-LOOKING SKIN TONE ]: This serum contains 5% pure Niacinamide, a well-researched ingredient known to help visibly brighten skin and support a more even-looking complexion over time. Niacinamide is also a antioxidant ingredient that helps protect skin from everyday environmental stressors. A simple addition to your daily skincare routine!
- [ HYDRATES & NOURISHES SKIN ]: With 1% Hyaluronic Acid, this serum provides deep hydration, helping skin look and feel soft and supple. Niacinamide, along with Aloe Vera, is a nourishing ingredient that supports skin's natural moisture. A great daily addition to your skincare routine after your mid-20s!
- [ SMOOTHER-LOOKING SKIN TEXTURE ]: This serum is formulated to help skin appear smoother and more refined, with a lightweight, non-greasy finish. Its balanced formula is designed to complement all skin types as part of a daily skincare routine.
- [ CLEAN & TRANSPARENT BEAUTY ]: This serum is (i) Fragrance-free (ii) Silicones-free (iii) Sulfates-free (iv) Parabens-free (v) Essential Oils-free and (vi) Dyes-free. Also, it is non-comedogenic, oil-free Formulated at pH 5.5 - 6.5 with key ingredient (Niacinamide) is sourced from Lonza, Switzerland; a global science-based company
- [ FOR ALL SKIN TYPES ]: Niacinamide is a well-tolerated ingredient suited for all skin types, which is part of why it's become a popular skincare staple. This 5% Niacinamide with 1% Hyaluronic Acid formula is a gentler option for those who find higher concentrations too strong.
What is Minimalist, and why did HUL acquire it?
Minimalist, legally Uprising Science Private Limited, was founded in 2020 by Mohit Yadav and Rahul Yadav. HUL describes it as a digital-first, actives-led beauty brand focused on skincare and haircare, with efficacy and transparency central to its positioning. Those are brand and company descriptions, not independent clinical findings about particular products.
HUL said the acquisition would expand its Beauty & Wellbeing portfolio in premium, high-growth areas. The founders said HUL’s offline distribution could make the brand more accessible in India and support international expansion. These were stated aims of the partnership, not evidence that those outcomes have already occurred. In the announcement, HUL CEO and managing director Rohit Jawa said: “Mohit, Rahul and the team have created a great brand built on science, product efficacy and transparency.” The founders said: “We founded Minimalist to introduce a transparent Indian beauty range that’s trusted and loved on a global scale.” Both statements appeared in HUL’s 22 January 2025 announcement.
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- [ SKIN BRIGHTENING SERUM ]: Reduces melanin production to visibly fade dark spots, acne marks, tanning, and dullness; 90% of users reported faded dark spots and 88% saw improved skin radiance within 4 weeks
- [ CLEAN & TRANSPARENT BEAUTY ]: Fragrance-free, paraben-free, silicone-free, sulfate-free, and non-comedogenic; made with high-purity ET-VC Ethyl Ascorbic Acid sourced from a leading global ingredient supplier
- [ FOR ALL SKIN TYPES ]: This serum is suitable for all skin types viz. Oily, Dry, Sensitive, Acne Prone, Combination. Formulated for both men and women.
- [ HOW & WHEN TO USE ]: After cleansing and toning your face, take 2-3 drops of Vitamin C serum on your fingertips with the dropper. Apply it on the face by gently tapping it on the skin. Use moisturizer after serum When to use: AM & PM Everyday.
How large is Minimalist now?
HUL’s FY 2025–26 Beauty & Wellbeing report gives Minimalist an annual revenue run rate above ₹850 crore. This is a company-reported run rate, not an audited revenue figure. At the January 2025 announcement, HUL had cited a ₹500 crore annual revenue run rate after four years; that was an earlier, announcement-era figure and should not be mistaken for the newer company-reported context. HUL’s current brand page reports the higher run rate, while the January announcement provides the earlier figure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What does Peak XV have to do with the deal?
Peak XV is associated with the transaction as an investor in Minimalist, but the official transaction materials cited here do not state how much Peak XV received or what return it earned. The disclosed enterprise value and ownership percentage are not enough to calculate an investor’s proceeds: that would require the investor’s stake, sale terms, and other relevant transaction details.
Quick Recap
Best Value
- VISIBLY SMOOTHER-LOOKING SKIN: Multi-peptide night serum with 7% Matrixyl 3000, a peptide complex known for supporting a smoother, more youthful-looking appearance with regular use.
- SUPPORTS A FIRMER-LOOKING APPEARANCE: Contains 3% Bio-Placenta derived from microbial fermentation, a nourishing ingredient that helps skin look renewed, plump, and revitalized over time.
- LIGHTWEIGHT HYDRATION: A lightweight, fast-absorbing formula designed to leave skin feeling instantly nourished and helping support a smoother, more supple look with continued use.
- CLEAN & TRANSPARENT BEAUTY: Fragrance-free, paraben-free, silicone-free, and suitable for all skin types; formulated with premium Matrixyl 3000 from Croda, UK and Bio-Placenta from Labio, Korea at pH 5.0 to 6.0.
- FOR ALL SKIN TYPES: This serum is suitable for all skin types — Dry, Oily, Normal, Sensitive, Combination. Recommended for use in your PM routine, daily.
Rank #4
- [ BLACKHEAD REMOVER SERUM ]: 2% BHA that penetrates deep into pore lining to dissolve dirt, oil, and sebum for visibly clear and smooth skin
- [ PORE CLEANSING & TIGHTENING ]: Pore cleansing and tightening formula flushes out excess oil and debris, minimizes pore size, and prevents future blackheads with regular daily use
- [ ANTI ACNE & BALANCES OIL ]: Controls excess oil and shine for a matte finish while soothing acne redness with added aloe, making it an effective anti-acne treatment serum
- [ CLEAN & TRANSPARENT BEAUTY ]: Fragrance-free, silicone-free, paraben-free, sulfate-free, and dye-free formula; non-comedogenic and hypoallergenic, made with pharmaceutical-grade RonaCare Salicylic Acid from Merck, Germany
- [ FOR ACNE PRONE & OILY SKIN ]: uitable for oily and acne-prone skin; clinically shown to reduce active acne in 93% of users and improve skin clarity in 90% of users within 4 weeks
Rank #3
- [ A POTENT STABLE VITAMIN C FACE SERUM ]: Formulated with Stable Vitamin C derivative - Ethyl Ascorbic Acid which is 86% pure Vitamin C. This serum delivers Ethyl Ascorbic Acid in high concentration of 15% & 1% blend of 2 potent antioxidants - Vitamin E & Ferulic Acid. Together they not only stabilize the formula but also improve efficacy of Vitamin C.
- [ BOOSTED WITH ANTIOXIDANTS FOR ANTI AGING ]: This serum contains 1% of two potent antioxidants, Vitamin E & Ferulic Acid which help in protecting skin cells from damage, especially, from the sun. It scavenges free radicals to reduce redness, skin damage & make the skin healthy overall. It is complimented by fullerence (C-60), a more potent, new age antioxidant which not only makes the skin even more brighter but also fights visible signs of ageing.
- [ CLEAN & TRANSPARENT BEAUTY ]: This serum is (i) Fragrance-free (ii) Silicones-free (iii) Sulfates-free (iv) Parabens-free (v) Essential Oils-free and (vi) Dyes-free. Also, it is non-comedogenic, oil-free, and hypoallergenic. pH 3.5 - 4.5 Formulated with ET-VC, high purity Ethyl Ascorbic Acid, from Corum Inc, Taiwan.
- [ FOR ALL SKIN TYPES ]: This serum is suitable for all skin types viz. Oily, Dry, Sensitive, Combination.
- [ HOW & WHEN TO USE ]: After cleansing and toning your face, take 2-3 drops of Vitamin C serum on your fingertips with the dropper. Apply it on the face by gently tapping it on the skin. With a circular motion, evenly spread the serum and allow your skin to absorb it. Follow this with B5 or B12 moisturizer When to use: AM & PM Everyday.
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