Ahmedabad-based Torrent Pharmaceuticals is set to acquire Chennai-based Curatio Healthcare, which manufactures skincare products. The deal is likely to cost Torrent Rs 2,100 crore. Existing investors of Curatio, such as ChrysCapital and Sequoia Capital, will exist with this transaction. Promoters like GK Ramani and the management will also be exiting the company. Notably, Mape Advisory and Edelweiss Financial Services are the advisers for the transaction.

As per media reports, apart from Torrent, many other pharmaceutical companies, including Aurobindo, Dr Reddy’s, JB Chemicals, Biocon and Zydus, had been shortlisted in the second round for the acquisition of Curatio.

Established in 2005, Curatio operates through a network of more than 700 distributors, focusing primarily on dermatologists, paediatricians and gynaecologists. Its most popular brand is the Tedibar baby soap. The company posted revenue of Rs 240 crore in fiscal 2022 with an operating profit of Rs 60 crore. The company projects Rs 300 crore in revenue and Rs 90 crore in operating profit for the current fiscal year.

Founded in 1959 by UN Mehta, Torrent Pharmaceuticals operates in more than 40 countries with over 2000 products globally. With annual revenue of Rs 8,500 crore, it is the flagship company of the Torrent Group. Headquartered in Ahmedabad, Torrent Pharma is ranked eighth in the Indian pharmaceuticals market.