Hindustan Unilever completes acquisition of 19.80% stake in Nutritionalab

5 Jan 2023 , 10:14 AM

Hindustan Unilever Limited informed the bourses through an exchange filing that it has completed the acquisition of 19.80% shareholding of Nutritionalab.

The acquisition is for a consideration of Rs70 crore.

The company has entered into a definitive agreement for the purchase of a 19.80% stake in Nutritionalab on December 8, 2022.

The company previously announced the acquisition of two D2C brands, Oziva and Wellbeing Nutrition, and with the current acquisition, it will enter the health and well-being category.

Nutritionalab Private Limited is primarily in the Manufacturing (Food stuffs) industry, and the company is currently in operation. The company is based in Mumbai (Maharashtra).

At around 10.11 AM, Hindustan Unilever was trading at Rs2,560.95 apiece, up by 0.98% against the previous close of Rs2,536.10 on NSE. The counter opened at Rs2,537.55 and touched an intraday high and low of Rs2,579.85 and Rs2,537.50 respectively.

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