Hindustan Unilever Limited, India’s largest FMCG company, announced that it has entered into a definitive agreement to acquire 51% equity stake in OZiva through a combination of primary infusion and secondary buyouts. Additionally, HUL will acquire the remaining 49% stake at the end of 36 months based on a pre-agreed valuation criteria. The current OZiva team led by Ms. Aarti Gill and Mr. Mihir Gadani will continue to operate all functions of the business. HUL will have representation on the Board and will provide necessary capabilities and support to scale up. With this acquisition, HUL has forayed into the fast growing ‘Health & Wellbeing’ category.
Avendus Capital acted as the exclusive financial advisor to OZiva, its co-founders (Aarti Gill & Mihir Gadani) and investors including Matrix Partners, Eight Roads Ventures and F-Prime Capital on this transaction.
About OZiva
Founded in 2016, OZiva is a plant-based and clean-label consumer wellness brand focused on the need spaces such as Lifestyle Protein, Hair & Beauty Supplements and Women’s health. It is a digital first brand with an omni-channel approach, available on its D2C website, digital marketplaces and a growing offline presence. The company has a strong in-house R&D team comprising of PhDs, Phyto-chemists and Biotechnologists.
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