Hindustan Unilever acquires majority stake in OZiva

Hindustan Unilever Limited (HUL) has acquired a majority stake in direct-to-consumer nutrition brand OZiva via a strategic investment. The current OZiva team led by Aarti Gill and Mihir Gadani will continue to operate all functions of the business.

The HUL board has agreed to acquire a 51% stake in OZiva with the first tranche at a cash consideration of Rs 264.28 crore. The company will acquire the remaining 49% stake after the expiry of three years from the completion of the first tranche.

OZiva provides plant-based nutrition products with a portfolio across categories such as women’s health, skin, hair, men’s health, and general wellness. The Mumbai-based company also provides its customers with access to personalized diet and fitness consultations, nutritional and fitness content, and community-based events through its technology platform.

Hindustan Unilever has passed another board resolution to acquire 19.8% of the stake in Wellbeing Nutrition through a combination of primary infusion and secondary buyouts for a cash consideration of Rs 70 crore. Wellbeing Nutrition is a whole-food nutrition company that uses plant-based ingredients to deliver wellness to individuals. The company deals in products across daily wellness, sleep, headaches, gut health, hair loss and skin care segments.

HUL CEO and Managing Director Sanjiv Mehta 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.”