Pharma major USV to acquire 79 pc stake in Wellbeing Nutrition at Rs 1,583-cr valuation

USV, a pharmaceutical and biotechnology company, will acquire a 79 per cent stake in Wellbeing Nutrition at a valuation of Rs 1,583 crore. USV has signed a definitive agreement to acquire a 79 per cent equity stake in Nutritionalab Pvt Ltd, which owns ''Wellbeing Nutrition'', according to a joint statement. This includes 35 per cent from the founder Avnish Chhabria and 44 per cent from existing shareholders. Its investors -- Early backers Fireside Ventures and Hindustan Unilever -- will divest their collective 40 per cent stake. This Rs 1,583 crores all-cash transaction represents the largest exit in India's health and wellness startup space to date, it added. This strategic expansion of USV, a leading player in diabetes and cardiac care, into consumer wellness is aligned with its expansion across the healthcare continuum. ''The addition of Wellbeing Nutrition reinforces USV's evolution into a comprehensive healthcare powerhouse spanning both therapeutic excellence and consumer wellbeing,'' it said. ''We look forward to unlocking the next phase of growth by leveraging USV's global capabilities while preserving Wellbeing Nutrition's core mission of transparent, sustainable, and high-quality nutrition,'' USV Managing Director Prashant Tewari said. Wellbeing Nutrition has built a good presence supported by its omnichannel presence. The company has witnessed 120 per cent growth in the last 2 years and is poised to cross Rs 450 crores in revenue by FY'27, the statement claimed. Wellbeing Nutrition founder Avnish Chhabria said: ''Together, we are committed to shaping a new benchmark for health and wellness, while preserving the integrity, culture, and purpose with which Wellbeing Nutrition was founded.'' The current management with Saurabh Kapoor (Co-Founder) will continue to operate the business under the oversight of the Board. Founded in 2019, Wellbeing Nutrition has a retail presence in over 6,000 outlets. The brand also has a presence in international markets such as the UAE and Europe.