Hindustan Unilever acquires 19.8% stake in Wellbeing Nutrition
Hindustan Unilever Limited, an Indian consumer goods company, said that it has closed the previously announced acquisition of a 19.8% stake in Nutritionalab Private Limited (Wellbeing Nutrition).
The total consideration for the stake acquisition as announced in December 2022 is INR 70 crores in cash.
The deal marks the entry of Hindustan Unilever into the health and wellbeing category.
Founded in 2019, Wellbeing Nutrition is engaged in manufacturing, buying, selling, trading, and dealing in vitamins, minerals and supplements, and protein products. Its product range includes slow (slow-release capsules), melts (oral thin strips), and marine collagen powder focused on beauty, daily health, gut health, sleep, and other areas.
For the financial year 2021-2022, Nutritionalab had a turnover of INR 19.4 crores.
The team of Wellbeing Nutrition led by Avnish Chhabria will continue operating all functions of the business with Hindustan Unilever to be represented on the company’s board.