Honasa Consumer acquires Reginald Men to boost men's personal care

Honasa Consumer Limited announced the acquisition of a 95% equity stake in BTM Ventures Private Limited, which operates the "Reginald Men" brand, for an enterprise value of ₹195 crores. The transaction, approved on December 11, 2025, positions Honasa to capitalize on the premium men's personal care market, projected to reach INR 40K crores by 2032. Reginald Men, founded in August 2022, offers a curated range of men's personal care products, with sunscreens as a core offering, aligning with Honasa's focus categories.

Reginald Men generated a revenue of ₹20.15 crores in FY 2024-25, with a trailing twelve-month revenue of ₹74 crores (ending October 2025) and an EBITDA of 18 (with a 24% EBITDA margin). The brand, which derives over 80% of its sales from South India, complements Honasa's existing portfolio. This acquisition allows Honasa to expand its category and channel presence, grow geographically, and strengthen its market share in southern states, unlocking a potential ₹500 crores revenue opportunity.