Corrected: “Full Circle Moments Are Rare But Here We Are! Life has a funny way of surprising you. Just when we thought our chapter with Sirona had closed the universe had other plans,” says Deep Bajaj, Co-Founder, Sirona Hygiene Pvt. Ltd, in a LinkedIn post.
Deep and Mohit Bajaj, the founders of Sirona, have been in talks to buy back the wellness company they fully sold to The Good Glamm Group last year.
“We have officially bought back Sirona! Maybe it’s serendipity, or maybe it’s unfinished business—but one thing is clear: we still have more to contribute to the feminine hygiene space. And this time, we return with the same passion, a bit more wisdom, and an even bigger vision to create a meaningful impact,” he shares.
Regarding the rationale behind the transaction, Deep Bajaj says, “The goal was never just to sell, make money, and move on. From day one, the vision was to scale Sirona and take it global. For two years, we nurtured the brand with GoodGlamm before stepping away. We had a good run together, with its highs and lows. But with Good Glamm’s changing priorities, we felt the best way forward was to reclaim the brand and lead its next phase of growth ourselves.”
The Morning Context recently reported that the reacquisition deal will value Sirona between Rs 150-200 crore, less than half what it was acquired at—Rs 450 crore—just last year. (The Good Glamm Group had first invested in Sirona in 2021 and was supposed to acquire it over the next couple of years or so, pending performance targets.)
The Sirona deal is expected to alleviate some of The Good Glamm Group’s financial pressures. Good Glamm has been actively seeking buyers for the entire company or individual assets for several months. These assets include consumer brands like The Moms Co., Organic Harvest, and Sirona, as well as media websites such as Miss Malini, ScoopWhoop, Bulbul, and PopXO. Fundraising difficulties have plagued the company, leading to escalating problems. Within the last two months alone, Good Glamm has experienced deferred salaries, layoffs, and the departure of three board members representing major investors Accel, Bessemer Venture Partners, and Prosus Ventures. This occurs against a backdrop of pending obligations exceeding Rs 400 crore, as per reports.
Read More:BREAKING: Good Glamm Group sees silent layoffs amid financial woes and strategy missteps