Unilever signs agreement to buy Olly Nutrition

Global FMCG giant Unilever has entered an agreement to purchase US-based wellbeing company Olly Nutrition for an undisclosed amount.

Established in 2014, Olly Nutrition offers a range of nutrition products such as gummy vitamins, supplements, protein powders and snack bars.

Unilever North America president Amanda Sourry said: “We are delighted to welcome Olly Nutrition to our portfolio of brands. Olly is a strong, innovative brand in the fast-growing health and wellbeing space, and nicely complements our businesses in beauty & personal care and foods & refreshment.

“Olly’s focus on making nutrition delightfully easy aligns closely with Unilever values and our continued commitment to improving people’s wellbeing.”

The transaction is currently subject to regulatory approvals and customary closing conditions.

Following the completion of the transaction, the wellbeing business will continue to operate from San Francisco.

Olly Nutrition co-founder Eric Ryan will serve as its chief growth officer and manage the company by exploring further opportunities in the health and wellbeing industry. The company’s existing chief operating officer Gerry Chesser will assume the role of CEO.

Ryan said: “We are thrilled to work with Unilever to grow the Olly brand and amplify our mission, culture and commitment to helping people feel happy inside out.”

In February, Unilever acquired the holding company of Graze, a UK-based snack brand for a reported value of £150m ($193m).

Graze offers a wide range of snacks, including nuts, seeds, trail mixes and food bars that are claimed to be free from artificial ingredients.