HUL forays in health & wellbeing category

8 Dec 2022 , 04:42 PM

Launched in 2016, OZiva is a leading plant-based, and clean-label consumer wellness brand focused on the need spaces such as Lifestyle Protein, Hair & Beauty Supplements and Womens health. It is a digital-first brand with an omnichannel approach, available on its website (D2C), digital marketplaces, and offline stores where its presence is growing. The company has a strong in-house R&D team comprising PhDs, Phyto-chemists and Biotechnologists. HUL will acquire 51% equity stake in OZiva through a combination of primary infusion and secondary buyouts. The balance 49% 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 and will provide necessary capabilities and support to scale up. Founded in 2019, Wellbeing Nutrition has pioneered disruptive formats in science-backed, benefit-led clean products in Health & Wellbeing. Its product range includes Melts (Oral Thin Strips), Slow (Slow-Release capsules) and Marine Collagen powder focused on need spaces such as Beauty, Everyday Health, Gut Health and Sleep. They have presence in D2C, digital marketplaces and are expanding in offline retail channels. HUL will acquire 19.8% equity stake in Wellbeing Nutrition 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. Both these transactions are expected to be completed in the next 1-3 months, subject to customary closing conditions. Sanjiv Mehta, CEO and Managing Director, HUL said: ?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 & 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. 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 Unilevers global Health & Wellbeing expertise. HUL is Indias largest fast moving consumer goods company. The FMCG major reported 20% increase in standalone net profit to Rs 2,616 crore on a 16% rise in net sales to Rs 14,514 crore in Q2 FY23 over Q2 FY22. The HUL scrip declined 0.23% to settle at Rs 2,701.30 on the BSE. Powered by Capital Market – Live News