IDAM Natural Wellness Pvt. Ltd, the parent company of direct to consumer (D2C) personal care brand Bella Vita Organic, has picked up around 60 per cent stake in MeeSoGood, a chocolate and coffee brand, for an undisclosed amount, the company said in a statement.
The strategic acquisition was made by IDAM to primarily help MeeSoGood cater to the increased demand in volumes and access different markets across India. This was IDAM’s second acquisition so far.
“With this acquisition, IDAM has taken its first step into the F&B industry. Aakash and I are excited about this venture, given the fact that we share a similar vision with MeeSoGood, where we inculcate a consumer-first approach and a commitment to make premium products at affordable prices all across the globe,” said Saahil Nayar, Co-founder & COO of IDAM House Of Brands.
MeeSoGood was started by Vivek Chaturvedi and his wife Deepali Chaturvedi in April this year. The duo initially handcrafted chocolates in their own kitchen. After various trials and positive feedback from friends and family, the startup started offering the product via own site and marketplaces, the statement said.
“Being a chocolate & coffee connoisseur, I noticed a lack of products that are of premium quality yet affordable for the masses. Further, with the help of IDAM House Of Brands and its expertise, we look forward to taking our homegrown brand and its premium range of products to consumers all around the world,” said Chaturvedi.
MeeSoGood chocolates come in a variety of flavours like almond, hazelnut, mint, paan, and fruit & nut, mixed with pure cocoa. It claims that its coffee is made with 100% pure Arabica coffee beans and contains no added sugar, preservatives, or artificial colours, the statement said.
The Gurgaon-based company is reachable on Amazon and Flipkart, besides its own website www.meesogood.com, and is soon launching the product in Krishna Mart, Le Marche, and other reputed retail stores and supermarkets, the statement said.
In October, IDAM announced the acquisition of pet wellness firm Petveda.
Bella Vita Organic was launched in 2018 by Anand. In July this year, the company raised $10 million (Rs 74.7 crore) in its first institutional round of funding from Ananta Capital, a private equity (PE) platform backed by the Mumbai-based Taparia family of Famy Care Group.https://www.vccircle.com/pe-fund-backed-by-taparia-family-invests-in-personal-care-brand-bella-vita-organic
The company has over 55 products, including a range of fragrances and essential oils. It claims to be on track to cross Rs 100 crore in the annualised revenue run rate. Apart from its app and website, the brand can be accessed on Amazon, Nykaa, Flipkart, Purplle, and other marketplaces.
Several companies in the beauty and personal-care category are trying to move to a ‘house of brands’ model to retain customers’ interest through differentiated offerings available under the same platform. Other players in the category include Good Glamm Group, Mamaearth and Nykaa, among others.
