Ahmedabad-based Torrent Pharmaceuticals Limited has signed a definitive agreement to acquire 100% skincare manufacturer Curatio Healthcare for Rs. 2,000 crores.
Skincare product maker: Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of more than 50 brands marketed in India. Curatio's portfolio consists of leading brands such as Tedibar, Atogla, Spoo, B4 Nappi and Permit, which are among the top 5 brands in the covered market.
With this acquisition, Torrent Pharma will enter the league of the 10 best players in the dermatological sector and will be a pioneer in the field of dermocosmetics.
“We are delighted to enter into this transaction with Curatio. The Torrent acquisition provides an opportunity to strengthen its presence in the dermatology field with a differentiated portfolio and strong strategic fit. “Curatio has built a commendable portfolio of high market share brands in pediatric and cosmetic dermatology that we look forward to adding to our product offering,” Torrent Pharmaceutical Director Aman Mehta said in a statement.
The deal is expected to close within a month.
Also Read: New credit card, demat, NPS, APY rules: 5 money changes that will come into effect from October