Unilever has announced the acquisition of Olly Nutrition, a US-based nutritional supplements business.
The San Francisco-based business was established by entrepreneur Eric Ryan in 2014, and produces vitamins, minerals, protein powders and snack bars as part of its portfolio.
Following the acquisition, the terms of which were not disclosed, Ryan will remain with the company as chief growth officer, while Gerry Chesser, the current COO of the business, will take on the role of chief executive.
The acquisition is subject to regulatory approvals and closing conditions.
Innovative Brand
“We are delighted to welcome Olly Nutrition to our portfolio of brands,” commented Amanda Sourry, president of Unilever North America.
“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.”
Ryan added that Unilever will help the brand “amplify our mission, culture and commitment to helping people feel happy inside out”.
Source: European Supermarket Magazine
McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.
Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.
L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.