Good Glamm Group Acquires Sirona Hygiene for INR 450 Cr in All-Cash Deal The Group invested INR 100 crore in Sirona, offering early angel and seed investors substantial returns of 6x to 20x through primary and secondary investments in 2021, now completing its acquisition.
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Good Glamm Group has officially completed the acquisition of feminine hygiene brand Sirona Hygiene for INR 450 crore in an all-cash deal, according to a statement released on Thursday.
The move marks a significant milestone for the Group, which had previously invested INR 100 crore in Sirona in 2021 through primary and secondary investments. This earlier investment had generated impressive returns of 6x to 20x for angel and seed investors, making it one of the largest Series B rounds for a direct-to-consumer (DTC) female hygiene startup.
Sirona saw tremendous growth after funding, tripling its revenue within 24 months. However, its founders, Deep Bajaj and Mohit Bajaj, stepped down from their active roles earlier this year and have now resigned as active directors following the acquisition. Additionally, Sirona's employees benefited from the deal through accelerated ESOP vesting.
Darpan Sanghvi, Group Founder and CEO of Good Glamm Group, expressed his excitement, stating, "With Sirona's pioneering spirit and our collective resources, we are excited to elevate the brand to new heights, creating a lasting impact on women's wellness globally through innovative solutions."
Sirona's product lineup includes period pain patches, menstrual cups, anti-chafing creams, and more. The acquisition follows earlier claims by some portfolio companies against Good Glamm Group regarding delayed payments.
