Talwalkar Pantaloon JV Acquires Star & Sitara Beauty Salons
Talwalkars Pantaloon Fitness Private Limited has acquired 'Star and Sitara' beauty salon chain owned by the Pantaloon Group.
As a part of the deal, Talwalkars Pantaloon Fitness Pvt Ltd will issue additional equity to acquire the firm and Talwalkars share in the JV will fall below 10%.
Transaction Reference: Reuters
Star and Sitara is a beauty salon chain in india. The Pantaloon Group had earlier launched private label beauty products such as nail paints under the brand.
The salon is present in 24 cities in the country.
Talwalkars Pantaloon Fitness Pvt Ltd is at present a 50:50 JV between Talwalkars Better Value Fitness Ltd and Pantaloon Retail Ltd. The JV presently owns health clubs in malls under the brand 'Fit & Active.
It intends to increase its presence in the wellness space with this acquistion.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/08/10 | Star And Sitara - Talwalkar Pantaloon Fitness | M&A | Splendor Fitness Private Limited (Formerly Talwalkars Pantaloon Fitness Pvt Ltd) | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | Venture Capital | Unitus Seed Fund | Bodhicrew Services Private Limited | - | Announced |
| 06/02/12 | Private Equity | Foundation Capital | Agni Property Services Private Limited | 4.00 | Completed |
| 23/01/12 | M&A | Mitsubishi Electric Corporation | Messung Group | - | Completed |
| 20/01/12 | M&A | eYantra Apparels Limited | Privilege Corner | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Pantaloon Retail India Limited | PIL Industries Limited (Formerly Pantaloon Industries Ltd) Kishore Biyani |
Knowledge House, Shyam Nagar, Off Jogeshwari- Vikhroli Link Road Jogeshwari- East Mumbai- 400 060 Maharashtra |
Shopper's Stop Limited Trent Limited Alok H&A Limited Kewal Kiran Clothing Limited |
www.pantaloonretail.in/ |
| Splendor Fitness Private Limited (Formerly Talwalkars Pantaloon Fitness Pvt Ltd) | Talwalkars Better Value Fitness Limited Pantaloon Retail India Limited |
801-813,Mahalaxmi Chambers, 22,Bhulabhai Desai Road,Mahalaxmi, Mumbai - 400026 Maharashtra | Cloud 9 Fitness Limited | |
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