GlobalBees, a subsidiary of FirstCry, has completed its acquisition of the remaining 24% stake in the direct-to-consumer (D2C) brand The Butternut Co, now owning 100% of the company. This ₹8 crore investment underscores GlobalBees’ commitment to strengthening its portfolio of health-conscious D2C brands.
The Butternut Co has shown robust growth in FY24, with a 57% increase in revenue, reaching ₹11.14 crore. The brand also made significant strides in reducing its losses by 42%, narrowing them to ₹1.61 crore. The company’s focus on health-focused nut butters has contributed to its success in the growing health-conscious market.
Additionally, GlobalBees continues to expand its D2C portfolio with a ₹5.88 crore investment in The Clownfish, a brand specializing in bags and rainwear. This acquisition highlights the company’s aggressive expansion strategy and focus on operational synergies.
Key Highlights:
- 100% Ownership of The Butternut Co: GlobalBees has acquired the remaining 24% stake in the D2C brand for ₹8 crore.
- Strong Financial Growth: The Butternut Co recorded a 57% increase in revenue and a 42% reduction in losses for FY24.
- Strategic D2C Expansion: GlobalBees furthered its D2C ambitions with investments in The Clownfish, strengthening its brand portfolio across sectors.
