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Hindustan Unilever (HUL) will invest in Zywie Ventures (OZiva) and Nutritionalab (Wellbeing Nutrition) to enter the health and well-being business category.
Unilever’s Indian subsidiary will initially acquire a 51 percent equity stake in OZiva, before purchasing the rest in three years.
A plant-based and clean-label consumer wellness brand, OZiva supplies lifestyle protein, hair and beauty supplements, and women’s health solutions.
OZiva’s current team will continue to operate all business functions.
Meanwhile, HUL is buying a 19.8 percent interest in Wellbeing Nutrition. The company’s product range includes marine collagen powder, Melts oral strips and health capsules. The current Wellbeing Nutrition team, led by founder and CEO Avnish Chhabria, will continue to operate the business.
According to Sanjiv Mehta, HUL’s CEO and managing director, the strategic investments give them an entry into the fast-growing health and wellbeing category.
Mehta added 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 wellbeing expertise.
Both transactions are set for completion within three months.
