Deal Closed | Guiltfree Industries Limited | Acquisition of Herbolab

The details of the deal are as follows:

Announcement Date 09-Mar-2021 

Completion Date: 08-Mar-2021 

Name of Client: Guiltfree Industries Limited 

Buyer Details: RPSG Ventures Limited | India  

RPSG Ventures is an early-stage consumer VC Fund focused on investing in the B2C ecosystem including food & beverage personal care and lifestyle goods. Established in 2018 RPSG Ventures works to be the value-adding ally of exceptional entrepreneurs looking to transform the Indian consumer landscape. The Fund is backed by the RP-Sanjiv Goenka Group as its sponsor investor a leading conglomerate with multi-vertical interests across consumer, energy, chemicals, entertainment and technology. 

Seller Details: Herbolab India Pvt Ltd. | India  

Herbolab India Pvt Ltd manufactures and sells ayurvedic herbal medicine for illness, wellness, and health care under Dr Vaidya’s brand. 

Deal Description Khaitan & Co advised RPSG Ventures Ltd in relation to acquisition of full ownership of Herbolab India Pvt Ltd (“Herbolab”), by purchasing 35.37% stake from the sellers. 

Total Consideration: USD 7 million (INR 50.8 crore) 

Team Members: Ashraya Rao (Partner), Minal Sangatwani (Associate) 

Role of Firm : Transaction counsel to RPSG Ventures Limited. We were involved in: (i) drafting, reviewing, negotiating and finalizing the share purchase agreement and other transaction documents; (ii) legal and regulatory advisory; (iii) assistance for completion of the condition precedent and closing.