Unilever acquires OLLY Nutrition
NamNews - Apr 24th, 13:13
Unilever has continued its recent acquisition spree by agreeing to buy OLLY Nutrition, a US-based wellbeing business in the vitamins, minerals, and supplements (VMS) category.
Co-founded in 2014 by Eric Ryan, OLLY is best known for its gummy vitamins and supplements, but it also sells protein powders and snack bars.
Amanda Sourry, President of Unilever North America, commented: “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 business will continue to be based in San Francisco and managed by Ryan, who will assume the role of Chief Growth Officer to explore more “opportunities in the health and wellbeing area”. Gerry Chesser, the current COO of OLLY, will take on the role as CEO.
Terms of the deal were not disclosed.
Unilever announced that it was buying two oral care brands from P&G. It has also been expanding in recent years via a series of acquisitions of fast-growing fledgling brands to offset slower growth of some of its established products.KamCity
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