Khaitan, Anagram, AZB make up Reliance - Sephora deal

Reliance Beauty & Personal Care Limited has acquired Sephora's business in India from Arvind Beauty Brands Retail Limited.

As part of the transaction, Reliance's retail arm will take over the operations of Sephora's 26 stores across 13 Indian cities. The partnership gives Reliance exclusive rights to build and enhance Sephora' presence in India across channels.

The transaction has been done at enterprise value of ₹216 crore towards the sale of the entire equity stake and repayment of loans. The purchase consideration toward the sale of the entire equity stake is ₹99.02 crore, reported Mint.

Khaitan & Co advised Reliance Beauty & Personal Care Limited and Reliance Retail Ventures Limited on this acquisition deal.

The core team consisted of Rahul Dutt (Partner), Hetal Thakkar (Counsel), Shivam Tandon (Principal Associate), Tanvi Tekriwal (Senior Associate), Palak Sunil Choudhary (Associate) and Himani Singh (Consultant) with assistance from the following:

Assisted on the due diligence aspects: Aakash Bajaj (Partner), Avirat Kumar (Senior Associate) and Arushi Yadav (Associate)

Assisted on Franchise Agreement: Anshuman Jaruhar (Counsel).

Anagram Partners acted for Arvind Beauty Brands and the team was led by Partners Shuva Mandal and Arka Banerjee.

AZB & Partners advised Sephora and the team was led by Partner Darshika Kothari.

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