Due to non-fulfillment of closing requirements under the share purchase agreement, Mamaearth parent Honasa Consumer has canceled its scheduled acquisition of a 58% stake in the nutraceuticals company Fluence Pharma.
On August 25, the business notified the stock exchanges that the intended transaction had been canceled.
The transaction was announced by Honasa in June, with an estimated enterprise value of Rs 135 crore. The agreement called for the corporation to buy 58% of Fluence Pharma, with the other 42% to be acquired over the course of the following five to seven years in two tranches.
Additionally, the company intended to establish a fully owned subsidiary called Honasa Health in order to combine Fluence Pharma’s clinical research and practitioner network with Honasa’s to create a business-to-consumer nutraceuticals enterprise.
In order to develop a business-to-consumer nutraceuticals company, the company also intended to establish a wholly owned subsidiary called Honasa Health. This would combine the clinical research and practitioner network of Fluence Pharma with the brand-building and digital distribution skills of Honasa.
Amit Bhusari and Dr. Rajendra Singh Rajput founded Fluence Pharma in 2012. Under the labels Hair Fact, Skin Fact, and Pro Fact, the company provides dermatologists with supplements for skin and hair health. It employs its own Cyclical Nutrition Therapy (CNT) technology and has established a network of more than 3,000 dermatologists in India.
According to Honasa’s presentation, Fluence Pharma recorded FY26 sales of almost Rs 40 crore with an EBITDA margin of more than 20%. Hair-related products accounted for more than 70% of its income.
Honasa stated that it is still dedicated to its nutraceutical strategy and would keep looking at organic and inorganic options to develop a consumer-focused business in the category, even though the acquisition has been cancelled.
