HUL forays into Health & Wellbeing category, will invest in OZiva and Wellbeing Nutrition

Hindustan Unilever Limited (HUL) today announced its foray into the ‘Health & Wellbeing’ category through strategic investments in Zywie Ventures Private Limited (“OZiva”) and Nutritionalab Private Limited (“Wellbeing Nutrition”). ‘Health & Wellbeing’ in India has a total potential market size of Rs 30,0001 crore.

OZiva is a plant-based, and clean-label consumer wellness brand focused on the need spaces such as Lifestyle Protein, Hair & Beauty Supplements and Women’s health. The company has a strong in-house R&D team comprising PhDs, Phyto-chemists and Biotechnologists.

HUL will acquire 51 per cent equity stake through a combination of primary infusion and secondary buyouts. The balance 49 per cent will be acquired at the end of 36 months based on pre-agreed valuation criteria. 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.

Wellbeing Nutrition deals with science-backed, benefit-led clean products in Health & Wellbeing. HUL will acquire 19.8 per cent equity stake in the company 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 HUL, both these transactions will be completed in the next 1-3 months, subject to customary closing conditions.

Sanjiv Mehta, CEO and Managing Director, HUL said the company is delighted to welcome OZiva and Wellbeing Nutrition to the HUL family as they align strongly with HUL's mission to improve the health and wellbeing of consumers and empower people to take charge of their health through solutions that they can trust. "I strongly believe that HUL is well-positioned to support further scale-up of these businesses through our R&D, Market Development, Distribution capabilities and Unilever’s global Health & Wellbeing expertise," he said.

Aarti Gill & Mihir Gadani, Founders of OZiva said that OZiva's focus on innovation in the space of health & wellbeing and HUL's strong capabilities in category development and distribution together will create a stronger purpose led brand that brings the company closer to its vision and touch more lives around the world.

Avnish Chhabria, Founder & CEO, Wellbeing Nutrition said Wellbeing Nutrition has been on a mission to make clean nutrition accessible to consumers all over the world on the back of innovative products, such as Melts (Oral Thin Strips) and Slow (2-in-1 capsule technology) formulated using high-quality and globally-sourced natural ingredients. "We believe this partnership will help scale Wellbeing Nutrition by leveraging HUL’s reach and capabilities and become a lifestyle wellness brand of choice."
 

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