Hindustan Unilever Limited has acquired a majority stake in direct-to-consumer (D2C) nutrition brand OZiva through a strategic investment, according to HUL’s regulatory filings on the National Stock Exchange (NSE).
HUL’s Board of Directors has reached a definitive agreement to acquire a 51% stake in OZiva in the first tranche for a cash consideration of Rs.264.28 crore. The company will acquire his remaining 49% stake three years after the completion of the first tranche.
“The current OZiva team, led by Aarti Gill and Mihir Gadani, will continue to run all functions of the business. HUL will be represented on the Board of Directors and will provide necessary functionality and scale-up support,” said OZiva. stated in the application.
The six-year-old company offers plant-based nutrition products with a portfolio spanning categories such as women’s health, skin, hair, men’s health, and general health. The Mumbai-based company also offers customers access to personalized diet and fitness consultations, nutrition and fitness content, and community-based events through its technology platform.
OZiva has raised a total of $17 million to date. $12 million Series B round It was passed by Eight Roads Ventures and Matrix partners last March. fin trackerthe company was valued at $80 million in its final round.
During FY22, the company’s operating revenue increased by 72% from Rs.72.1 billion in FY21 to Rs.12.417 billion in FY22.posted a loss 9,770 crore in 2021 Against a profit of Rs 1.59 crore in FY20. Loss/gain figures for FY22 could not be confirmed.
Hindustan Unilever has passed another board resolution to acquire a 19.8% stake in Wellbeing Nutrition for a cash consideration of Rs.70 crore. Wellbeing Nutrition, founded by Avnish Chhabria, is a whole food nutrition company that uses plant-based ingredients to deliver wellness to individuals. The company has products across the areas of daily wellness, sleep, headaches, gut health, hair loss and skin care.
In June 2021, the company raised funding $2.2 million It participated in a series A round led by Fireside Ventures and was reportedly seeking $10 million in funding for further expansion. Wellbeing Nutrition’s operating revenue increased 3.7 times from his Rs 5.3 billion in FY21 to his Rs 19.4 billion in FY22.
