On the BSE, the shares of Hindustan Unilever Limited hit a 52 week high of Rs 2,741 after the company announced its entry into the Health Wellbeing category through strategic investments in Zywie Ventures Private Limited OZiva and Nutritionalab Private Limited Wellbeing Nutrition.OZiva is a leading plant-based and clean-label consumer wellness brand that is focused on the need spaces such as Lifestyle Protein, Hair Beauty Supplements and Women's health.
HUL will acquire a 51% equity stake through a combination of primary infusion and secondary buyouts. The company said that the balance of 49% will be acquired at the end of 36 months, based on pre-agreed valuation criteria.
Wellbeing Nutrition, founded in 2019, has pioneered disruptive formats in science-backed, benefit-driven clean products in Health and Well-being. Its product range includes Melts Oral Thin Strips Slow Slow-Release capsules and Marine Collagen powder, which is focused on need spaces such as Beauty, Everyday Health, Gut Health and Sleep.
The Wellbeing Nutrition team led by Mr Avnish Chhabria will continue to operate all the functions of the business. HUL will be represented on the Board.
Both of these transactions are expected to be completed in the next 1 -- 3 months, subject to custom closing conditions.
HUL welcomes OZiva and Wellbeing Nutrition to the HUL family, and our portfolio of purpose-led brands, said Sanjiv Mehta, CEO and Managing Director. These strategic investments give us entry into the fast-growing health and well-being category. They align strongly with our mission to improve the health and well-being of consumers and empower people to take charge of their health through solutions that they can trust. He said 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 well-being expertise.