India, May 7 -- FMCG major Emami is acquiring a 60% stake in IncNut Digital, the parent entity of D2C beauty and personal care brands Vedix and SkinKraft, for up to Rs.321 Cr in an all-cash transaction.

In a regulatory filing, Emami said that its board approved the execution of a share subscription and purchase agreement (SSPA) to acquire a 60% stake in IncNut Digital and its subsidiary. The transaction, which also includes "performance-linked adjustments over a 24-month period", is expected to close within 30 days.

The FMCG major also plans to buy the remaining 40% stake in the startup over the next four-and-a-half years in two phases, with the final consideration linked to the startup's future performance. Post the deal, IncNut Digita...