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Honasa Consumer has withdrawn its proposed ₹135 crore acquisition of a 58 per cent stake in nutraceuticals startup Fluence Pharma after certain closing conditions under the share purchase agreement remained unfulfilled.
The proposed deal was expected to give the Mamaearth parent an entry into the nutraceuticals segment, leveraging Fluence Pharma’s product portfolio and network of dermatologists.
Under the original agreement, Honasa was set to acquire the 58 per cent stake from Fluence Pharma’s existing shareholders, with plans to purchase the remaining 42 per cent in two tranches over the next five to seven years.
In an exchange filing, Honasa said the proposed acquisition had been called off due to the non fulfilment of closing conditions specified in the share purchase agreement executed between the company and Fluence Pharma.
