Mumbai, India – In a significant move to expand its footprint in the health and wellness market, Zydus Wellness has entered into a definitive agreement to acquire Naturell (India), the company behind Ritebite Max Protein bars and snacks, for Rs 390 crore in an all-cash deal. The acquisition aligns with Zydus’ strategic goal to cater to the growing demand for healthier snack options among consumers.
The Acquisition Details
Zydus will acquire 100% of Naturell’s paid-up equity shares, marking a full takeover of the company. The deal will be funded through Zydus’ cash reserves and is projected to boost its earnings per share (EPS) starting next year. Naturell, founded in 2003, ventured into the healthy snack market in 2007 and has since built a strong portfolio of products, including protein bars and fiber-enriched snacks.
Why This Acquisition Matters
Sharvil Patel, Chairman of Zydus Wellness, described the acquisition as a strategic addition to the company’s product portfolio. “This acquisition is an opportunity to invest in brands that resonate with health-conscious consumers and enhance our presence in the consumer wellness space,” Patel stated.
Naturell’s founder, Vijay Uttarwar, expressed optimism about the collaboration. “With Zydus’ strong supply chain and marketing capabilities, our product portfolio is set to achieve new milestones,” he said.
Growing Demand for Healthy Snacks
The healthy snacking segment in India is witnessing exponential growth as consumers increasingly prioritize nutritious food options. Naturell reported annual revenues of Rs 129 crore in FY24, with its Ritebite Max Protein brand becoming a leader in the protein snack category. Zydus aims to leverage this momentum to strengthen its position in the wellness market.
Future Outlook
The acquisition is expected to complement Zydus’ existing portfolio of wellness products, expanding its reach in the health-conscious consumer base. With the integration of Naturell’s products into its robust distribution network, Zydus is well-positioned to scale the Ritebite Max Protein brand across the country and beyond.
This deal underscores Zydus’ commitment to aligning its offerings with consumer health trends, ensuring a strong foothold in the burgeoning health and wellness sector.
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