Zydus Wellness, a leading consumer goods company said it will enter into a definitive agreement to acquire Naturell India, a healthy snacking company for ₹390 crore. Naturell India is engaged in the business of manufacturing, research and development and marketing of Nutrition bars, Protein cookies, Protein Chips and health food products.
The transaction is proposed to be funded by cash. It is expected to be EPS accretive for Zydus Wellness from the very next year.
Naturell’s business portfolio includes brands – Ritebite Max Protein (protein-fueled healthy snacks) and Ritebite (fiber-enriched snacks). It commercially started its operations in 2003 and ventured into healthy snacks in 2007.
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.”
Tarun Arora, CEO and Whole Time Director, Zydus Wellness, said, “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.”
Commenting on this transaction, Vijay Uttarwar, founder of Naturell (India) Private Limited, said, “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.”
