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Photo Credit: Reuters Fast-moving consumer Goods (FMCG) maker Hindustan Unilever announced the acquisition of haircare and skincare brand Minimalist at a pre-money valuation of ₹2,955 crore.

Hindustan Unilever has agreed to acquire beauty startup Minimalist for about $342 million, as the consumer goods giant seeks to expand in India’s fast-growing premium skincare market.

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Unilever did not disclose the sale price for the assets and said in a statement that the disposal aligns with its strategy to focus the company’s food portfolio on “core segments”.