Marico has acquired men’s grooming startup Beardo. While Marico already had a 45% stake in the company, it has now fully acquired the startup.
Beardo sells beard oils, beard waxes, soaps, and other facial hair products for men. It has actor Sunil Shetty on its board of investors and Hrithik Roshan is the brand ambassador.
With the acquisition, Beardo’s early investors Venture Catalysts has taken a complete exit from the company. Venture Catalysts had invested $500,000 in Beardo and its returns have been 5-8 times of the investment, said the firm