USV Acquires 79 Percent Stake in Wellbeing Nutrition for INR 1,583 Cr As part of the transaction, USV will acquire approximately 35 percent from founder Avnish Chhabria and about 44 percent from existing shareholders.
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Pharmaceutical company USV has signed a definitive agreement to acquire a 79 percent stake in Nutritionalab Private Limited, the parent firm of Wellbeing Nutrition, marking its entry into India's fast-growing direct-to-consumer nutraceutical market.
The all-cash deal values Wellbeing Nutrition at around INR 1,583 crore and is being described as the largest exit in India's health and wellness startup space to date.
Founded in 2019, Wellbeing Nutrition operates in the nutraceutical segment, offering vitamins, minerals, protein, collagen, omega supplements and other wellness products. The company sells through its own digital platform, online marketplaces and offline retail outlets, and has an international presence in the United States, the United Kingdom and the United Arab Emirates. It currently retails through more than 6,000 outlets.
As part of the transaction, USV will acquire approximately 35 percent from founder Avnish Chhabria and about 44 percent from existing shareholders. Early investors Fireside Ventures and Hindustan Unilever Limited will divest their combined stake of around 40 percent. Chhabria, who held roughly 50 percent prior to the deal, will continue to retain a stake until March 2028. The current management team, including co-founder Saurabh Kapoor, will continue to run the business under board oversight.
Kotak Mahindra Capital Company Limited acted as the exclusive financial advisor to the sellers and the company.
Wellbeing Nutrition has reported rapid growth over the past two years, with revenues rising from INR 42 crore in FY23 and expected to cross INR 260 crore in FY26. The company is targeting revenue of INR 450 crore by FY27.
It has raised close to USD 14 million to date, including a USD 10 million Series B round in December 2022, according to startup data platform TheKredible.
USV, which has operated in India for over six decades, is known for brands such as Glycomet GP, Ecosprin and Roseday in the oral anti-diabetic and cardiovascular segments. It is also the exclusive partner for Sebamed in India. With this acquisition, the company is expanding beyond prescription medicines into preventive and lifestyle-focused wellness. USV has also indicated plans to enter the GLP-1 therapy segment under a new brand, usema, once exclusivity periods lapse.
The development comes amid wider consolidation in India's consumer and D2C market. Recently, Marico acquired a 60 percent stake in plant-based protein startup Cosmix, while Hindustan Unilever Limited acquired skincare brand Minimalist last year.
