HUL Purchases Shares Of Wellbeing Nutrition, Oziva

As part of its entry into the wellness and nutrition space, HUL has purchased the digital-first brands Oziva and Wellbeing Nutrition.

According to media sources, the FMCG giant owns a 51 per cent stake in Oziva but a 19.8 per cent share in Wellbeing through main and secondary buyouts.

The Wellbeing Nutrition team will continue to be headed by Avnish Chhabria, and Arti Gill and Mihir Gadani will continue to lead the Oziva company.

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 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. 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 wellbeing expertise.”

Ritesh Tiwari, CFO, HUL said, “HUL has a successful track record of building categories through market development. We are excited to work with the founders of OZiva and Wellbeing Nutrition to grow the businesses further by leveraging our complementary expertise and capabilities.”

Aarti Gill and  Mihir Gadani, Founders of OZiva said,“We are glad to partner with HUL to achieve our vision of empowering people to live better and healthier with OZiva. Over the last few years, we have created an innovative portfolio that has helped millions of consumers live a better life. As the next step in this journey, with OZiva's focus on innovation in the space of health and wellbeing and HUL's strong capabilities in category development and distribution, we believe we can together create a stronger purpose led brand that brings us closer to our vision and touch more lives around the world.”

Avnish Chhabria, Founder and 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.”