Honasa Consumer has announced the acquisition of BTM Ventures Pvt Ltd, the parent company of men’s personal care brand Reginald Men, through a secondary transaction. Honasa has acquired a 95% stake at an enterprise value of Rs 195 crore, subject to closing adjustments, and has planned to acquire the remaining 5% after 12 months based on pre-agreed valuation criteria.
Founded in August 2022 by Trisha Reddy Talasani, Reginald Men has focused on men’s personal care products, with sunscreen and serums as key categories. In the twelve-month period from November 2024 to October 2025, the brand has reported a topline of over Rs 70 crore with an EBITDA of nearly 25%.
The acquisition has marked Honasa’s entry into a fast-growing men’s personal care segment while strengthening its presence in southern India, where Reginald Men has generated the majority of its revenue. Honasa has also gained access to the brand’s consumer insights and regional market understanding, particularly in categories that are already focus areas for the company, such as sunscreen and serums.
Reginald Men has built its scale primarily through organic growth. Its Helios Moisturizing Sunscreen has emerged as the most searched sunscreen for men on Google in India, indicating rising consumer interest in the brand within a short period of operation.
Varun Alagh, Co-founder & CEO, Honasa Consumer, said, “We are deeply inspired by what the Reginald Men team has built in such a short span of time. Their sharp understanding of the modern male consumer, combined with their ability to quickly translate ideas into action, aligns perfectly with Honasa’s long-term vision. The men’s personal care category is evolving rapidly, and Reginald Men’s deep insight into this segment, especially its nuanced understanding of what today’s male consumers seek makes them a strong strategic fit for us. This acquisition further strengthens our mission of shaping the future of India’s beauty and personal care landscape.”
Trisha Reddy Talasani, Founder, BTM Ventures, says, “Joining hands with Honasa Consumer and its visionary founders, Ghazal and Varun, is a landmark moment for us. Our shared passion for innovation and commitment to excellence forge a strong partnership, and I am excited to collaboratively elevate our brand to new horizons.”
