Unilever intensifies expansion strategy with acquisition of Olly Nutrition
Leading FMCG brand, Unilever Plc, has completed the acquisition of Olly Nutrition, a U.S.-based premium wellbeing business in the vitamins, minerals, and supplements (VMS) category.
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. Established as a B Corp, Olly Nutrition’s mission is to make nutrition delightfully easy as it believes good health is the foundation of happiness. OLLY is known for its gummy vitamins and supplements, and also sells protein powders and snack bars.
“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,” said Amanda Sourry, President of Unilever North America in a report.
Eric Ryan, co-founder of Olly, stated: “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.”
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; and Gerry Chesser, current COO of Olly, who will take on the role as CEO of Olly.
These acquisitions underline Unilever’s expansion strategy into key global markets that are crucial to its growth plan. Recall that the multinational FMCG brand launched a campaign called ‘Lift Africa’ to drive strategic investment on the continent. In line with this expansion drive, the company, a couple of years back, revealed that it intended to invest 10 million euros (N4.3billion) in a new plant in Nigeria.
The Unilever Executive President/CEO, Luc-Olivier Marquet, during an interview with Marketing Edge team at the 2017 Loeries Creative Week, said the new plant was to involve the manufacturing of Blue Band, its flagship margarine brand, which is in high demand in the country. The move will also help the company to further deepen its presence.
In the same vein, in December 2018, Unilever also acquired GlaxoSmithKline Plc’s Indian consumer business, including malted milk drink Horlicks, for 3.3 billion euros ($3.8 billion) to boost its footprint in one of the world’s fastest-growing major economies.
The transaction strengthens its presence in the emerging markets that account for about two-thirds of its revenue.
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