Unilever has snapped up Olly Nutrition, a fledgling US business supplying products from vitamins to protein powders and snack bars.
Based in San Francisco, Olly Nutrition was set up in 2014 and sells gummy vitamins and supplements, as well as protein powders and snack bars. Its retail customers include drug-store chain Walgreens, Walmart, Target and Whole Foods Market.
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Eric Ryan, co-founder of Olly Nutrition, said the deal, struck for an undisclosed sum, would “amplify our mission, culture and commitment to helping people feel happy inside out”.
Ryan will continue to manage Olly Nutrition, which he set up as a B Corp. business. However, Ryan will take a position of chief growth officer and, a statement announcing the deal read, look at ” further opportunities in the health and well-being area”.
Gerry Chesser, the COO of Olly Nutrition, whose career includes time at Clorox and Nestle, will take on the role of CEO.
Amanda Sourry, president of Unilever’s business in North America, described Olly as “a strong, innovative brand in the fast-growing health and wellbeing space, and nicely complements our businesses in beauty, personal care, foods and refreshment”.
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By GlobalDataThe deal is Unilever’s fourth in food in just over four months. In February, the FMCG giant bought Graze from shareholders including private-equity firm Carlyle, which owned a majority stake in the UK snacks business.
In December, Unilever acquired Netherlands-based firm The Vegetarian Butcher.
Earlier that month, the Knorr and Ben & Jerry’s owner bought a clutch of food-and-beverage assets from GlaxoSmithKline (GSK), principally in India but also in other Asian markets.
just-food analysis from February 2019: Why Unilever gobbled up Graze
just-food analysis from December 2018: Why did Unilever buy GSK’s Horlicks-led assets?
