afaqs! news bureau

HUL forays into ‘health & wellbeing’ category with two investments

The company has invested in Zywie Ventures Private Limited (OZiva) and Nutritionalab Private Limited (Wellbeing Nutrition).

Hindustan Unilever Limited (HUL) announced its foray into the ‘health & wellbeing’ category through strategic investments in Zywie Ventures Private Limited (“OZiva”) and Nutritionalab Private Limited (“Wellbeing Nutrition”).

The ‘health & wellbeing’ is a fast-evolving category in India with a total potential market size of Rs 30,000 crores.

HUL will acquire 51% equity stake 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. 

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 Unilever’s global Health & Wellbeing expertise.”

Ritesh Tiwari, CFO, HUL said: “HUL has a successful track record of building categories through market development. We are excited to work with the founders of OZiva and Wellbeing Nutrition to grow the businesses further by leveraging our complementary expertise and capabilities.”

Aarti Gill & Mihir Gadani, Founders of OZiva said: “We are glad to partner with HUL to achieve our vision of empowering people to live better and healthier with OZiva. Over the last few years, we have created an innovative portfolio that has helped millions of consumers live a better life. As the next step in this journey, with OZiva's focus on innovation in the space of health & wellbeing and HUL's strong capabilities in category development and distribution, we believe we can together create a stronger purpose led brand that brings us closer to our vision and touch more lives around the world.”

Avnish Chhabria, Founder & CEO, Wellbeing Nutrition said: “We are very excited to welcome onboard Hindustan Unilever as a strategic investor. 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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