Hindustan Unilever Limited (HUL) announced it will acquire a 90.5% stake in beauty startup Minimalist at a pre-money enterprise value of ₹2,955 crore. Balance 9.5% will be acquired from the founders in two years as per terms set out in the transaction documents, HUL said. Brothers Rahul Yadav and Mohit Yadav, who founded Minimalist, will continue to run the company.