Hindustan Unilever Limited to Acquire 19.8% Stake in Nutritionalab for Rs 70 Crore

Hindustan Unilever Limited (HUL) announced on Thursday that it would acquire a 19.8% stake for Rs 70 crore from Nutritionalab Private Limited, a limited liability company incorporated in India.

“In line with our strategic priority to enter fast-growing demand spaces, Hindustan Unilever Limited (HUL) today announced its foray into the ‘Health & Wellness’ category through strategic investments in Zywie Ventures Private Limited (“OZiva”) and Nutritionalab Private Limited (“Wellbeing Nutrition”) “Health and Wellness” is a rapidly growing category in India with a total potential market size of approximately INR 30,000.1 crores,” the company said in a statement.

Health and Wellness (Vitamins, Minerals and Supplements), is the industry to which the HUL being acquired belongs and the objects and effects of the acquisition are based on a strategic investment to enter the Health and Wellness category -be.

Wellbeing Nutrition Founder and CEO Avnish Chhabria said, “We are very pleased to welcome Hindustan Unilever as a strategic investor. Wellbeing Nutrition is on a mission to make clean nutrition accessible to consumers around the world through innovative products, such as Melts (Oral Thin Strips) and Slow (2-in-1 capsule technology) formulated using products high quality and natural ingredients of global origin. We believe this partnership will help evolve Wellbeing Nutrition by leveraging HUL’s reach and capabilities and become a wellness brand of choice.

Wellbeing Nutrition was founded in 2019 and has pioneered disruptive science-backed, benefit-driven clean product formats in health and wellness. HUL will acquire a 19.8% stake in the company through a combination of primary infusion and secondary buyouts.

The company said the current Wellbeing Nutrition team led by Avnish Chhabria will continue to manage all functions of the business. HUL will be represented on the Board of Directors.

OZiva, a plant-based, own-label consumer wellness brand, was launched in 2016, focusing on areas of need such as lifestyle proteins, hair and beauty supplements and women’s health. HUL will acquire a 51% stake through a combination of primary infusion and secondary buyouts. The remaining 49% will vest after 36 months based on pre-agreed assessment criteria.

OZiva Founders Aarti Gill and Mihir Gadani said, “We are pleased to partner with HUL to realize our vision of empowering people to live better, healthier lives with OZiva. Over the past few years, we’ve created an innovative wallet that has helped millions of consumers live better lives. As the next step in this journey, with OZiva’s focus on health and wellness innovation and HUL’s strong capabilities in category development and distribution, we believe we can create together a stronger, purpose-driven brand that brings us closer to our vision and touch. more lives in the world.

HUL’s Chief Financial Officer, Ritesh Tiwari, said, “HUL has a proven track record in construction categories through market development. We are excited to work with the founders of OZiva and Wellbeing Nutrition to further grow the business by leveraging our complementary expertise and capabilities.

The company said both of these transactions are expected to close within the next 1-3 months, subject to customary closing conditions.


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