Hindustan Unilever Limited (HUL) announced today that it is going to acquire 19.8% shareholding for ₹70 crore of Nutritionalab Private Limited, a private limited company incorporated in India. Health and Wellbeing (Vitamins, Minerals and Supplements), is the industry to which the HUL being acquired belongs and the objects and effects of the acquisition are based on a strategic investment to enter the Health & Wellbeing category.
HUL said in a statement that the indicative time period for completion of the acquisition is expected to occur on or before 23 January 2023, subject to any extension as per the terms of the transaction.
The Board of Directors of HUL said today in a stock exchange filing that “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, it is hereby informed that Hindustan Unilever Limited (the “Company") has entered into definitive documents (the “Transaction Documents"), to acquire 19.8% shareholding of Nutritionalab Private Limited, a private limited company incorporated in India (the “Transaction")."
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,"
For the fiscal year 2021–2022, Nutritionalab Private Limited, an Indian private limited company, had a turnover of INR 19.40 crores. 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, according to a stock exchange filing.
Hindustan Unilever Limited (HUL) today also announced its foray into the ‘Health & Wellbeing’ category through strategic investments in Zywie Ventures Private Limited (“OZiva"). The FMCG giant said that it 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 current OZiva team led by Aarti Gill and Mihir Gadani will continue to operate all functions of the business.
Both of these deals are anticipated to complete within the next 1-3 months, subject to customary closing conditions, according to HUL.
The shares of Hindustan Unilever Ltd closed today at ₹2,700, down by 0.27% from the previous close of ₹2,707.35. The stock recorded a total volume of 1,314,703 shares compared to the 20-Day average volume of 1,541,045 shares.
