HUL To Acquire 19.8 % Stake In Wellbeing Nutrition Wellbeing Nutrition has a presence in D2C, digital marketplaces and is expanding in offline retail channels
By Shrabona Ghosh •
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Hindustan Unilever Limited (HUL) announced its foray into the health & wellbeing category through strategic investments in Nutritionalab Private Limited (Wellbeing Nutrition).
Founded in 2019, Wellbeing Nutrition has pioneered disruptive formats in science-backed, benefit-led clean products in Health & Wellbeing. The brand has presence in D2C, digital marketplaces and is expanding in offline retail channels.
"HUL will acquire a 19.8 per cent equity stake in the company through a combination of primary infusion and secondary buyouts," said a statement by HUL.
"We are delighted to welcome Wellbeing Nutrition to the HUL family and our portfolio of purpose-led brands. These 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. 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 & Wellbeing expertise," said Sanjiv Mehta, CEO and Managing Director, HUL in the statement.
"We are very excited to welcome 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 and Slow 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," said Avnish Chhabria, founder & CEO, Wellbeing Nutrition.
HUL plans to build a portfolio of fast growing, lifestyle-led, science-driven brands, which are focused on attractive segments, product formats and channels. "Underpinned by our capabilities of market development, distribution, R&D and Unilever's global Health & Wellbeing expertise we look to scale and unlock value," HUL said in a BSE filing, explaining its strategy to win in Health & Wellbeing.
