Hindustan Unilever (HUL) did acquire Minimalist, but the January 2025 report that it was in talks to pay up to $350 million described negotiations, not finalized terms. HUL later signed an agreement for a 90.5% stake, and Unilever reported that the acquisition completed on April 21, 2025. HUL also said it had a path to acquire the remaining 9.5% in two years.
Did HUL buy Minimalist?
Yes. The transaction progressed from reported negotiations to a signed agreement and then completion. On January 3, 2025, TechCrunch reported, citing two people familiar with the matter, that HUL was in advanced talks to acquire Minimalist for up to $350 million; it noted the deal was not finalized. On January 22, HUL announced a definitive agreement to acquire 90.5% of the company. Unilever later reported that the 90.5% acquisition completed on April 21, 2025.
HUL said the initial stake would be acquired through secondary buyouts and a primary infusion, with a path to acquire the remaining 9.5% in two years. The company’s announcement described the agreed stake and structure, not a purchase price.
How much did HUL pay for Minimalist?
The available company announcements and filing cited here do not state the final purchase price. The figure of up to $350 million comes from TechCrunch’s January 3, 2025 report about talks, attributed to two people familiar with the matter. It should not be treated as a confirmed deal value or the amount HUL ultimately paid.
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| What was reported | Source and date | What it establishes |
|---|---|---|
| Up to $350 million | TechCrunch, January 3, 2025 | A talks-stage price ceiling attributed to two people familiar with the matter; not a confirmed final price. |
| 90.5% stake, with a path to the remaining 9.5% | HUL announcement, January 22, 2025 | The announced stake and transaction structure; the announcement did not state a price. |
| Completion of the 90.5% acquisition | Unilever filing, April 21, 2025 | The reported completion date for the initial stake acquisition. |
Who owns Minimalist now?
HUL completed its acquisition of 90.5% of Minimalist on April 21, 2025, according to Unilever’s filing. HUL’s January announcement said it had a path to acquire the remaining 9.5% in two years. The cited completion filing establishes the 90.5% acquisition; it does not establish that the balance has since transferred.
What does Minimalist sell?
HUL describes Minimalist as a premium, digital-first, actives-led beauty brand offering skincare and haircare products. The company positions the acquisition within its Beauty & Wellbeing portfolio.
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Who founded Minimalist?
Minimalist was founded in 2020 by Mohit Yadav and Rahul Yadav, according to HUL’s company materials.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why did HUL acquire Minimalist?
HUL said the deal was intended to expand its Beauty & Wellbeing portfolio in premium, higher-growth demand spaces. CEO Rohit Jawa described it as “another key step to grow our Beauty & Wellbeing portfolio in high-growth premium demand spaces.” That is HUL’s stated rationale, not evidence that the acquisition will produce a particular growth result.
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HUL reported that Minimalist crossed an annual revenue run rate of ₹500 crore in four years. Separately, HUL’s FY2024–25 annual report said the business crossed ₹500 crore in annual turnover in FY2024–25. These are distinct company-reported measures, not a disclosed deal valuation or profit figure.
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