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Beauty and personal care (BPC) startup Innovist is reportedly in talks to sell a majority of its stake to global cosmetics giant L’Oreal at a valuation of $350 Mn to $450 Mn (₹3,264 Cr to ₹4,196 Cr).
As per a report by Moneycontrol, L’Oreal would look to pick up controlling stake in Innovist initially and is likely to completely acquire the Accel-backed startup in the subsequent years. The financial details of the transaction are yet to be discerned.
“The deal is expected to be sealed…
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Beauty and personal care (BPC) startup Innovist is reportedly in talks to sell a majority of its stake to global cosmetics giant L’Oreal at a valuation of $350 Mn to $450 Mn (₹3,264 Cr to ₹4,196 Cr).
As per a report by Moneycontrol, L’Oreal would look to pick up controlling stake in Innovist initially and is likely to completely acquire the Accel-backed startup in the subsequent years. The financial details of the transaction are yet to be discerned.
“The deal is expected to be sealed…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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