Hindustan Unilever plans to acquire Jaipur-based skincare brand Minimalist for approximately US$342 million.

The transaction includes the purchase of a 90.5% stake through secondary buyouts and primary investments, with the remaining 9.5% to be bought from the founders within two years.

According to a filing, the deal is expected to be finalized by the June quarter, pending regulatory approvals.

The acquisition aims to enhance Hindustan Unilever’s position in the premium skincare market.

It will complement its existing brands such as Dove, Pond’s, and Lakmé.