Good Glamm Group Acquires Sirona for Rs 450 Crore in All-Cash Deal

The Good Glamm Group, a content-to-commerce platform, has successfully completed the acquisition of Sirona Hygiene for Rs 450 crore (approximately $60 million) in an all-cash transaction. This deal marks one of the largest cash exits for a direct-to-consumer (D2C) startup in India, particularly in the growing femtech sector.

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As part of the acquisition, Deep Bajaj and Mohit Bajaj, co-founders of Sirona, stepped down from their active roles earlier this year and have now resigned as active directors. The deal also brought financial gains for Sirona’s employees, with accelerated ESOP vesting, enabling them to benefit from early returns.

However, the transaction hasn’t been without complications. Sirona’s co-founders, along with The Moms Co and the Indian Angel Network (IAN), have reportedly filed a default notice against The Good Glamm Group, alleging delays in the final payments related to the acquisition.

Founded in 2015, Sirona Hygiene has built a reputation for addressing women’s needs from puberty to menopause through innovative products. Key offerings include:

• PeeBuddy: A stand-and-pee device for women.
• Herbal period pain patches (India’s first of their kind).
• Menstrual cups, period stain removers, and sanitary disposal bags.
• Anti-chafing rash creams for intimate care.

Additionally, Sirona has pursued its own acquisitions, including IMpower (a women’s safety pepper spray brand) and BLEU (India’s first vegan condom brand).

In 2022, The Good Glamm Group invested Rs 100 crore ($12 million) in Sirona through a mix of primary and secondary investments. Early angel and seed investors benefited from returns of 6x to 20x on their investments. Sirona claims to have tripled its revenues within just 24 months since the initial investment.

The Good Glamm Group, which achieved unicorn status in 2021 following a $250 million funding round, has since expanded its portfolio. Its D2C brands include:

• MyGlamm
• The Moms Co
• Organic Harvest
• St Botanica
• WYN Beauty by Serena Williams

The company, headquartered in Delhi, reported a compound annual growth rate (CAGR) of 251% between FY21 and FY23, making it one of the fastest-growing consumer internet firms. It also raised $30 million earlier this year to fuel expansion.

Looking ahead, The Good Glamm Group plans to go public by Diwali 2025. It recently launched the GlammSOP program to reward high-performing employees through accelerated ESOP vesting aligned with the IPO timeline.

This acquisition solidifies The Good Glamm Group’s position as a leader in the D2C beauty and personal care market, while also expanding its reach into the fast-growing femtech space.