Godrej Consumer Products Ltd (GCPL) has entered into a deal to acquire the FMCG business of Muuchstac from Trilogy Solutions via a slump sale valued at around ₹4.49 billion, structured entirely in cash. The transaction is split into two stages: in the first phase, GCPL will pay ₹2.89 billion for an enterprise value of ₹3.8 billion. The second tranche, scheduled one year later, will involve payment of about ₹1.60 billion, with the enterprise value then estimated to fall between ₹4 billion and ₹5 billion.
GCPL states this acquisition aligns with its strategy to deepen its personal-care offerings. With this deal, it will enter high-growth, higher-margin segments. According to the company’s leadership, Muuchstac fits well due to its strong appeal among younger consumers and favourable profitability metrics.
Muuchstac has grown rapidly in India’s men’s grooming market, especially in the face-wash category. For the year ending September 2025, it reported revenue of approximately ₹800 million and an adjusted EBITDA of around ₹300 million.
Within the broader market context, the Indian face-wash segment is valued at around ₹60-70 billion and shows annual growth of about 15-20 %. The men’s face-wash sub-segment is estimated at roughly ₹10 billion and is growing at over 25 % a year.
Speaking about the planned acquisition, Sudhir Sitapati, Managing Director and CEO, GCPL, said that with this deal, he company will cement its position among the youth and seeing the high profit margins, it will be an excellent addition to GCPL’s current portfolio. Founders of Muuchstac, Vishal Lohia and Ronak Bagadia, are delighted with this move and see great potential for the brand’s growth under the GCPL umbrella.
In its financials for the July-September quarter, GCPL reported consolidated net profit of ₹4.593 billion (down 6.5 % year-on-year) and net sales of ₹38.251 billion (up 4.3 %). Domestic volume growth was 3 %, impacted in part by GST transition and inventory adjustments. GCPL plans to acquire more market share in other important categories, nd recently it forayed into the toilet cleaner segment called ‘Godrej Spic’, valued at Rs 30 billion, which is presently available in some of the states in the South.
