HUL completes OZiva buyout in $86M deal as revenue jumps 80%
What's the deal? Hindustan UnileverDealroom has a profile for this one. Try Dealroom → has acquired the remaining 49% stake in nutrition brand OZiva for US$111.9M (roughly $86 million), making the company a wholly owned subsidiary. The deal, announced in February 2026, values OZiva at about US$228.4M — a sharp jump from the valuation implied when HUL first bought in.
Why now? HUL had held a 51% stake since December 2022, when it paid US$35.9M for control. The buyout completes a phased takeover of the plant-based supplements, protein, and skin and hair wellness brand.
The numbers: OZiva's revenue from operations rose 80% to US$62.9M in FY26, up from US$35M a year earlier. Domestic sales drove growth, contributing US$61.7M, while international revenue climbed to US$112.7K.
But losses widened. OZiva posted a net loss of US$2.51M, against US$570.4K in FY25, as marketing spend more than doubled to US$33.4M — over half of total expenses.
What weighed on profit? Much of the loss stemmed from cash-settled employee stock option costs of US$2.99M, up from US$950.6K, as employees exercised options following the ownership change. Excluding that charge, the company estimates it would have turned a profit of around US$475.3K.
What changes? OZiva now sits fully inside HUL's portfolio, giving the consumer goods giant a deeper foothold in India's fast-growing nutrition and wellness market. Cash and bank balances, however, fell 67% year-on-year to US$1.2M.
The signal: The buyout reflects how India's largest consumer companies are absorbing direct-to-consumer brands to capture demand in health-focused categories. For HUL, full ownership of a high-growth but loss-making brand is a bet that scale can eventually convert topline momentum into profit.
Read more: indianretailer.com
Image credit: shannonkringen
