This comes after the company in February informed exchanges about the stake sale. HUL was among the early backers of Avnish Chhabria-founded Nutritionlabs, having invested Rs 70 crore in 2022 at a valuation of Rs 350 crore.
USV Private Limited, meanwhile, said it acquired a 79% stake in Wellbeing Nutrition for Rs 1,583 crore in an all-cash deal. The company’s founder and CEO, Avnish Chhabria, who owns 51% of Wellbeing Nutrition, was set to earn about Rs 800 crore by selling nearly 35% stake in the company.
“In USV, we have found a new home that understands the importance of scientific rigour, patient capital, and building enduring institutions,” Chhabria had said. USV’s managing director, Prashant Tewari, said the acquisition “dovetails strongly with our strategy to build a future-facing healthcare portfolio that responds to the changing aspirations of Indian consumers. Their success across channels, particularly through their own platform, and their premium, clinically backed portfolio positions us well to accelerate growth while maintaining high standards of quality, compliance, and ethics that USV has been known for.”
Wellbeing Nutrition offers a range of consumer health and nutrition products, including whey protein, magnesium, collagen and Omega-3 fish oil. The company, founded in 2019, has seen nearly a threefold increase in revenue over the past two years — from Rs 42 crore in FY23 to Rs 119 crore in FY25. However, it continues to remain loss-making due to brand-building and portfolio expansion.
While HUL exited Wellbeing Nutrition, it earlier announced the acquisition of the remaining 49% stake in Zywie Ventures Private Limited for Rs 824 crore, making nutrition brand OZiva a wholly owned subsidiary of the FMCG major.
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