HUL Completes Buyout to Consolidate Wellness Portfolio
Hindustan Unilever Limited (HUL) has acquired the remaining 49% stake in plant-based nutrition brand OZiva, operated through Zywie Ventures Private Limited, for ₹824 crore. The acquisition makes OZiva a wholly owned subsidiary of HUL, signalling the FMCG major’s deeper push into the fast-growing wellness and nutrition category.
HUL had earlier acquired a 51% stake in OZiva in December 2022 for ₹264.28 crore, implying a valuation of approximately ₹518 crore. The latest transaction values OZiva at nearly ₹1,682 crore, representing over threefold growth in valuation within three years.
Growth Momentum and Strong Operating Performance
Founded in 2019, OZiva focuses on plant-based nutrition products spanning health supplements, skin care, hair wellness, and general lifestyle nutrition. Prior to HUL’s investment, the company had raised around $17 million from investors including Matrix Partners, Eight Road Ventures, and Stride Ventures.
The company has reported strong financial growth, with revenue from operations rising 148% to ₹258 crore in FY25 from ₹104 crore in FY24. Losses also reduced significantly by 90%, falling to ₹4.5 crore in FY25 compared to ₹43.5 crore in the previous fiscal year, reflecting improving operational efficiency and product-market fit.
Rising Consolidation in India’s D2C Nutrition Segment
The acquisition comes amid increasing consolidation in India’s direct-to-consumer wellness sector. Recently, pharmaceutical company USV acquired a 79% stake in Wellbeing Nutrition, while Marico acquired a 60% stake in plant-based protein startup Cosmix. HUL itself expanded its D2C portfolio last year with the acquisition of skincare brand Minimalist.
The deal highlights growing demand for science-backed, plant-based nutrition products and signals FMCG companies’ increasing focus on premium health-focused consumer categories.
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