Private equity firm Samara Capital on Tuesday said it has entered into an agreement to buy about 50 per cent stake in Blue Heaven Cosmetics.
Blue Heaven Cosmetics is a family-run company founded by Charanjit Singh and Gurnam Singh.
The company manufactures and markets its cosmetics range under the Blue Heaven brand. It has its own manufacturing facilities located in Delhi and Baddi, Himachal Pradesh.
Commenting on the development, Samara Capital Co-Founder and Managing Director Gautam Gode said: "During our diligence, we were amazed to see how it has managed to straddle the traditional and the modern and its customers value it for pedigree, product quality as well as trendiness.
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