India's 'Health & Wellness' market is growing at a rapid rate with an estimated market size of Rs 30,0001 crore, HUL said
Hindustan Unilever Limited (HUL) on December 8 announced its foray into the ‘Health & Wellbeing’ category through investments in Zywie Ventures Private Limited and Nutritionalab Private Limited.
India's 'Health & Wellness' market is growing at a rapid rate with an estimated market size of Rs 30,000 crore, the FMCG major said in a regulatory filing.
HUL will acquire 51 percent equity stake in OZiva (Zywie Ventures Private Limited) for Rs 264.28 crore, through a combination of primary infusion and secondary buyouts, it said in a regulatory filing. The balance 49 percent will be acquired at the end of 36 months based on pre-agreed valuation criteria, it added.
OZiva is a plant-based, clean-label consumer wellness brand specializing in lifestyle protein, women's health, and hair & beauty supplements.
"The current OZiva team led by Aarti Gill and Mihir Gadani will continue to operate all functions of the business. HUL will have representation on the Board and will provide necessary capabilities and support to scale up," HUL said.
Meanwhile, HUL will acquire a 19.8 percent stake in Wellbeing Nutrition (Nutritionalab Private Limited) for Rs 70 crore, through a combination of primary infusion and secondary buyouts. The current Wellbeing Nutrition team led by Avnish Chhabria will continue to operate all functions of the business. HUL will be represented on the Board, according to a press release.
Wellbeing Nutrition (Nutritionalab Private Limited) was founded in 2019 and pioneered disruptive formats in science-backed, benefit-led clean products.
Sanjiv Mehta, CEO and Managing Director, HUL said, "These strategic investments give us an entry into the fast-growing Health & Wellbeing category. They align strongly with our mission to improve the health and wellbeing of consumers and empower people to take charge of their health through solutions that they can trust"
Both these transactions are expected to be completed in the next 1-3 months, subject to customary closing conditions.Hindustan Unilever enters health and wellbeing category with two investments - Moneycontrol
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