Known for its wide range of products in health and wellness segment, Zydus Wellness has announced that it shall now enter into a definitive agreement to acquire 100% stake in Naturell India (NIPL)- a healthy snacking company engaged in the business of manufacturing, research and development and marketing of Nutrition bars, Protein cookies, Protein Chips and health food products.
Having started its commercial operations in 2003 followed by its venturing into healthy snacks in 2007, NIPL’s business portfolio currently includes brands- Ritebite Max Protein (Protein fueled healthy snacks) and Ritebite (fiber-enriched snacks).
In its regulatory filing, the company mentioned that its board has approved entering into the Share Purchase Agreement with the Promoters and other shareholders of NPIL to acquire 1,50,78,605 equity fully paid up shares of Rs. 1 each, representing 100% of the paid-up share capital at a consideration of Rs. 390 crores.
As per Zydus Wellness, this acquisition seamlessly aligns with the company’s strategic vision, expanding its footprint in the consumer wellness industry by foraying into the rapidly growing healthy snacking segment.
“It further strengthens our market presence and commitment to addressing the evolving needs and preferences of health-conscious consumers. The transaction is proposed to be funded by cash. It is expected to be EPS accretive for Zydus Wellness from the very next year post-acquisition,” the company mentioned in a press note.
Speaking of the development, Dr. Sharvil Patel, Chairman, Zydus Wellness, said, “We believe that this acquisition is an opportunity to expand our portfolio by investing in brands and products that resonates with our company’s portfolio and today’s health-conscious consumers. By leveraging our proven track record of innovation, and comprehensive brand offerings, we are well-positioned to meet and exceed the evolving health and wellness needs of our consumers. This acquisition represents a strategic addition to Zydus Wellness, perfectly aligning with our aspirations to expand within the consumer wellness space. We extend a warm welcome to the employees, consumers, partners and all stakeholders of NIPL to the Zydus family”
Adding to this, Vijay Uttarwar, Founder, Naturell, stated, “Zydus has a proven track record of entering early in niche and emerging segments and successfully transforming them into major brands. Our company is thrilled and excited to be a part of the Zydus Wellness family. We are confident that with access to the wide distribution network, strong supply chain and marketing capability our product portfolio will be able to scale newer heights. Zydus Wellness will also bring in systems and processes essential for a company looking to scale-up.”
Furthermore, Tarun Arora, CEO and Whole Time Director, Zydus Wellness, also mentioned, “This acquisition represents a step forward for Zydus Wellness, aligning with our strategic vision to further strengthen our market presence keeping in mind evolving consumer preferences. By integrating NIPL into our portfolio, we are poised to continue driving innovation and embarking on this exciting journey together. We warmly welcome the employees, consumers, partners and all stakeholders of NIPL to the Zydus family.”
