HUL, Glenmark Pharma surge up to 10% on VWash deal

NEW DELHI: Shares of Hindustan Unilever (HUL) jumped 10 per cent in Tuesday’s trade after the FMCG major announced the acquisition of female intimate hygiene wash brand VWash from Glenmark Pharmaceuticals for an undisclosed sum.

Following the announcement, the stock rose 10 per cent to hit a high of Rs 2,059.80 on BSE. On the other hand, Glenmark added 8.9 per cent to Rs 204.75.

The deal would include an upfront cash payment and a deferred consideration over the next three years, Hindustan Unilever said in a statement, without disclosing the acquisition amount.


The acquisition of VWash would help HUL have a larger play in the chemist channels as it is already getting brands like Horlicks, Boost, Sensodyne and Crocin from the acquisition of GSK Consumer and Healthcare Business, HUL Chief Financial Officer Srinivas Phatak said in a teleconference.

VWash was launched by Glenmark in 2013 and has established itself as the market leader in the female intimate hygiene category.