Hindustan Unilever Ltd. (HUL) has forayed into the ‘Health & Wellbeing’ category through investments in Zywie Ventures Private Ltd. (OZiva) and Nutritionalab Private Ltd. (Wellbeing Nutrition).
OZiva is a plant-based consumer wellness brand focused on need spaces such as lifestyle protein, hair & beauty supplements and women’s health.
HUL will acquire 51% equity stake in this firm 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.
Wellbeing Nutrition’s 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.
HUL will acquire 19.8% equity stake in the company through a combination of primary infusion and secondary buyouts. The current 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 MD, 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.”
“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 added.
