Indian consumer company Zydus Wellness has acquired healthy snacking company Naturell India for a total value of Rs3.9bn ($46m).
On 30 November, the group acquired a 98.14% stake in Naturell India, with the remaining 1.86% finalised on 2 December.
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Zydus Wellness said the acquisition “seamlessly aligns” with its “strategic vision”, “expanding its footprint in the consumer wellness industry by foraying into the rapidly growing healthy snacking segment”.
It “strengthens our market presence and commitment to addressing the evolving needs and preferences of health-conscious consumers,” the company noted.
Naturell produces a range of nutrition bars, protein cookies, bars, crisps, spreads and powders under the brand Ritebite Max Protein and high-fibre snacks under Ritebite.
The company began commercial operations in 2003 and entered the healthy snacks sector in 2007.
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By GlobalDataIn October, Zydus Wellness chairman Sharvil Patel 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.
“This acquisition represents a strategic addition to Zydus Wellness, perfectly aligning with our aspirations to expand within the consumer wellness space.”
For Naturell India, according to founder Vijay Uttarwar, the deal will offer “access to the wide distribution network, strong supply chain and marketing capability”.
“Zydus Wellness will also bring in systems and processes essential for a company looking to scale-up,” Uttarwar added.
Zydus Wellness, which is part of pharmaceutical major Zydus Group, is known for brands such as Sugar Free sweeteners, Glucon-D energy solutions, and Nutralite dairy spreads.
The deal was funded by cash and is anticipated to be “EPS accretive” for Zydus Wellness from 2025.
In 2018, Zydus Wellness agreed to acquire Kraft Heinz’s consumer brands division, which at the time included the children’s nutrition drink Complan, along with Glucon-D, Nycil and Sampriti ghee, for $625m.
