**Bajaj Consumer Care Acquires Vishal Personal Care for ₹120 Crore**
Mumbai-based Bajaj Consumer Care Ltd., a prominent player in the personal care products sector, has announced its acquisition of Hyderabad’s Vishal Personal Care Pvt. Ltd. for ₹120 crore. This strategic move allows Bajaj Consumer Care to incorporate Vishal’s hair and skincare offerings, marketed under the Banjara’s brand, into its portfolio.
The acquisition will occur in two phases, with Bajaj Consumer Care initially purchasing a 49% stake, followed by the acquisition of the remaining 51%. The total deal is valued at ₹120 crore, with an enterprise value of approximately ₹108.3 crore, as per a company filing. This marks Bajaj Consumer Care’s first acquisition to date.
Bajaj Consumer Care will acquire Vishal Personal Care from its current shareholders, including private equity firm Peepul Capital, which invested an undisclosed amount in 2012 from its $320 million Peepul Capital III fund. Jaideep Nandi, managing director of Bajaj Consumer Care, stated, “Acquiring Vishal Personal Care is a strategic move to strengthen our presence in the five southern markets. Adding Banjara’s to our portfolio enhances our ability to serve evolving consumers across India and complements our product range for further expansion.”
Vishal Personal Care reported revenues of ₹51 crore in fiscal year 2024. Established in 1991, Banjara’s offers a variety of herbal products, including powders, aloe vera gels, shampoos, and hair care powders, with a distribution network of over 70,000 outlets across the southern states.
The board of directors of Bajaj Consumer Care approved the share purchase and shareholders agreement with Vishal Personal Care, Peepul Capital Fund III LLC, and others during a meeting on February 14, 2025, to acquire 100% of the equity shares from the existing shareholders in two tranches.
Bajaj Consumer Care, part of the $2.5 billion Bajaj Group led by Kushagra Bajaj, reported revenues of ₹967.71 crore and a profit of ₹158.77 crore in fiscal year 2024. Its product lineup includes popular hair care items such as Bajaj Almond Drops oil, amla oil, coconut oil, as well as soaps, serums, shampoos, and conditioners.
This acquisition positions Bajaj Consumer Care to leverage Vishal’s extensive distribution network in southern India while introducing Banjara’s products to Hindi-speaking markets, effectively doubling its reach. The company also aims to expand into modern trade and export markets, tapping into the growing global demand for natural personal care products.