Good Glamm Group Acquires Sirona Hygiene For Rs 450 Cr
The acquisition also provides benefits to Sirona’s employees through accelerated vesting of employee stock ownership plans
Good Glamm Group has finalised the acquisition of Sirona Hygiene for Rs 450 crore (approximately USD 60 million) in an all-cash transaction. This deal is recognised as one of the largest cash exits for a direct-to-consumer (D2C) startup in India, particularly in the FemTech space.
Darpan Sanghvi, founder and chief executive officer (CEO) of Good Glamm Group, noted that the trust placed in the group by Sirona's founders was crucial to the acquisition. "Their confidence in our vision has been instrumental," he added.
Founded in 2014-15, Sirona offers a variety of products aimed at women's health, ranging from puberty to menopause. Its innovations include PeeBuddy, a stand-and-pee device, herbal period pain patches, and a range of menstrual cups. The brand has also engaged in social initiatives through the Sirona Foundation, which has educated over 100,000 girls on menstrual hygiene and donated more than 10,000 menstrual cups to those in need.
Following Good Glamm Group's initial investment of Rs 100 crore in 2022, Sirona has tripled its revenues in two years. The acquisition also provides benefits to Sirona’s employees through accelerated vesting of employee stock ownership plans.
Sirona has integrated technology into its offerings, launching India's first WhatsApp period tracker and fostering an online community via its app. Additionally, the brand has taken steps to improve access to feminine hygiene products, including the installation of vending pods at Delhi airport and the acquisition of IMpower, a women’s safety pepper spray brand, along with Bleu, India’s first vegan condom brand.
With the recent resignation of co-founders Deep and Mohit Bajaj from active roles, Sirona is set to enter a new phase under Good Glamm Group’s leadership.
