FMCG giant Hindustan Unilever Ltd (HUL) on Thursday said it will acquire a majority stake in Zywie Ventures Pvt Ltd (OZiva) and a 19.8 per cent stake in Nutritionalab Pvt Ltd (Wellbeing Nutrition). The purchase will mark its entry into the health and wellbeing category.
“We are delighted to welcome OZiva and Wellbeing Nutrition to the HUL family and our portfolio of purpose-led brands. These strategic investments give us an entry into the fast-growing health and wellbeing category,” said Sanjiv Mehta, CEO and managing director, HUL.
Launched in 2016, OZiva is involved in protein products, vitamins, minerals and supplements, apart from beauty and personal care. It had posted revenues of over Rs 124 crore in 2021-22.
HUL will acquire a 51 per cent equity stake through a combination of primary infusion and secondary buyouts. The balance of 49 per cent will be acquired at the end of 36 months based on a pre-agreed valuation criterion.
The company disclosed in a regulatory filing that the consideration for the acquisition of the first tranche will be Rs 264.28 crore and the amount under the second tranche will be determined at the end of three years.
The 19.8 per cent stake in Wellbeing Nutrition, which is present in vitamins, minerals and supplements and protein products, will be acquired for Rs 70 crore. The company posted revenues of over Rs 19 crore in 2021-22.
