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HUL shares hit 52-week high on acquiring stakes in OZiva and Wellbeing Nutrition

HUL shares hit 52-week high on acquiring stakes in OZiva and Wellbeing Nutrition

The company announced its foray into the ‘Health & Wellbeing’ category through strategic investments in Zywie Ventures Private Limited (“OZiva”) and Nutritionalab Private Limited (“Wellbeing Nutrition”).

HUL shares hit 52-week high on acquiring stakes in OZiva and Wellbeing Nutrition HUL shares hit 52-week high on acquiring stakes in OZiva and Wellbeing Nutrition

Shares of Hindustan Unilever Limited hit their 52-week high of Rs 2,741 on BSE a day after the company announced its foray into the ‘Health & Wellbeing’ category through strategic investments in Zywie Ventures Private Limited (“OZiva”) and Nutritionalab Private Limited (“Wellbeing Nutrition”).

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 Women’s health.

"HUL will acquire a 51% equity stake through a combination of primary infusion and secondary buyouts. The balance of 49% will be acquired at the end of 36 months based on pre-agreed valuation criteria," the company said.

Founded in 2019, Wellbeing Nutrition has pioneered disruptive formats in science-backed, benefit-led clean products in Health and well-being. 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, it added.

The current Wellbeing Nutrition team led by Mr 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 and well-being category."

"They align strongly with our mission to improve the health and well-being 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 and well-being expertise," he added.

Published on: Dec 09, 2022, 9:39 AM IST
Posted by: Tanya Aneja, Dec 09, 2022, 9:30 AM IST