Unilever banks on health and wellness trend as it acquires functional food and supplement business OLLY
US brand OLLY supplies gummy vitamins and supplements, as well as protein powders and snacks
24 Apr 2019 --- British-Dutch consumer goods company Unilever has recently acquired OLLY Nutrition, strengthening both its Beauty & Personal Care and its Foods & Refreshment businesses. The move indicates that the transnational company is banking on the health and wellness trend and the popularity of supplements and functional foods among an increasingly health-seeking society. The US-based brand offers gummy vitamins and supplements, but also sells protein powders and snack bars. From functional foods to supplements that boost wellness and beauty, the brand touts itself as making nutrition “delightfully easy.”
“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,” says Amanda Sourry, President of Unilever North America.
From functional foods to supplements that boost wellness and beauty, the brand touts itself as making nutrition “delightfully easy.”Based in San Francisco, California, OLLY Nutrition was co-founded in 2014 by Eric Ryan, who also previously co-founded home and personal care products company method. The company is now established as a B Corp.
Terms of the deal were not disclosed. OLLY will continue to be based in San Francisco and managed by Eric Ryan, who will assume the role of Chief Growth Officer, exploring further opportunities in the health and wellbeing area. Gerry Chesser, current COO of OLLY, will take on the role as CEO of OLLY.
The move follows Unilever’s recent move into the personal care space, with its offer to acquire French derma-cosmetic brand Garancia. The acquisition is expected to close in the second quarter of this year. Created with “clean and effective” formulas combined with a scientific approach, Garancia was founded in 2004 by pharmacist Savéria Coste. The company now offers 38 premium facial and body skincare products predominantly sold through the pharmacy channel in France and in selective retail distribution.
Unilever made the move on Garancia a month after it snapped up Graze, a healthy snack box delivery brand which is sold in supermarkets across the UK and US.
The global company announced its results for the first quarter of 2019, which showed underlying sales growth of 3.1 percent led by its emerging market business which grew by 5 percent. Underlying sales in Unilever’s Foods & Refreshment division grew 1.5 percent.
