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
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.
