Yash Birla Group which owned a 51% stake in its joint venture with Birla Kerala Vaidyashala (BKV) today said that it has successfully acquired the remaining 48% stake, leaving 1% for its promoters, the Kurup family.
"This acquisition marks yet another milestone in our foray into the ayurvedic healthcare and wellness industry. Apart from the planned geographical expansion, we are also looking to capitalise on the growing demand for quality solutions on mental and bodily wellness. The balance stake acquisition of BKV will not only allow us to create a niche within the industry and expand our current portfolio, but also showcase our absolute commitment to the project," Birla Wellness' CEO N Venkat said.
Since its inception in 2008, BKV today has more than 40 ayurvedic spas across key cities in India. The company which specialises in therapeutic massages and treatments for lifestyle disorders, plans to go international by launching ayurvedic medspa centres in the Gulf region as well as South East Asia.
After this acquisition, the group aims to grow its healthcare arm through a strategic phase-wise five-year plan, beginning with expansion of centres through the franchise route in major Indian cities.
