The Good Glamm Group has officially acquired Sirona Hygiene, a popular feminine hygiene brand, for Rs 450 crore in an all-cash deal. This acquisition marks a significant step for the Good Glamm Group in expanding its presence in the women’s wellness sector.
In 2021, Good Glamm had previously invested Rs 100 crore in Sirona through a combination of primary and secondary investments. The initial investment generated impressive returns for angel and seed investors, ranging from 6x to 20x, making it one of the largest Series B rounds for a direct-to-consumer (DTC) feminine hygiene startup.
Sirona Impressive Growth
Following the funding, Sirona experienced remarkable growth, tripling its revenue in just 24 months. This rapid expansion solidified its position as a leader in the feminine hygiene market. Sirona offers a wide range of products designed to improve women’s health, including menstrual cups, period pain patches, and anti-chafing creams.
Despite the company’s success, Sirona’s founders, Deep Bajaj and Mohit Bajaj, stepped down from their roles earlier in the year. After the Good Glamm Group acquisition, they officially resigned as active directors. Additionally, Sirona’s employees also benefited from the acquisition through the accelerated ESOP (Employee Stock Ownership Plan) vesting, providing them with financial rewards.
Good Glamm’s Vision for Sirona
Darpan Sanghvi, Founder and CEO of Good Glamm Group, shared his excitement about the acquisition. He mentioned that with Sirona’s pioneering spirit and Good Glamm’s resources, they aim to take the brand to the next level. Their goal is to make a lasting impact on women’s wellness by delivering innovative solutions to meet their needs on a global scale.
The acquisition is part of Good Glamm Group’s broader strategy to expand its portfolio of wellness and hygiene products. This move follows earlier claims from some of the Group’s portfolio companies regarding delayed payments. However, the acquisition of Sirona is expected to bring fresh momentum to the group’s operations.
