The Estée Lauder Companies Inc. has entered into an agreement to acquire the remaining 51% shareholding in Mountain Valley Springs India Private Limited, the parent company of the luxury Ayurvedic skincare brand Forest Essentials, from the existing shareholders including Indian promoters Mira Kulkarni and Samrath Bedi.
Dua Associates advised The Estée Lauder Companies on all aspects of the Indian law elements of the transaction. The Firm's scope of work included conducting a comprehensive legal due diligence exercise; advising on transaction structuring and overall deal strategy; reviewing and negotiating the transaction documentation; and providing advice on the regulatory framework applicable to the acquisition, including issues relating to India’s Ayurvedic and cosmetics regulatory landscape.
The transaction team was led by Neeraj Kumar (Partner), Sanjeev Kaul (Partner) and Abhinav Rastogi (Partner), with support from Jay Badola (Partner), Jyoti Pande (Partner), Monica Das (Partner), Ashish Malkotia (Partner), Varun Mathur (Senior Associate), Associates Nikhil Raghav Reddy, and Anshuman Malik.
Lowenstein Sandler LLP also advised The Estée Lauder Companies on this transaction.
The transaction team consisted of Marita Makinen (Chair, M&A Group) and Revel Atkinson (Associate)
AZB & Partners represented the selling shareholders of Mountain Valley Springs India on this transaction.
Upon completion, the transaction will result in The Estée Lauder Companies obtaining full ownership and control of Forest Essentials, marking a significant milestone in the continued expansion of global beauty companies into India’s rapidly growing premium Ayurvedic and wellness sector.
The acquisition is expected to be one of the most prominent transactions in India’s Ayurvedic beauty segment, underscoring the increasing global interest in India’s heritage-based wellness and skincare brands.
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