Zydus Wellness shines as the company to acquire Naturell (India)
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Zydus Wellness is currently trading at Rs. 1947.35, up by 63.00 points or 3.34% from its previous closing of Rs. 1884.35 on the BSE.
The scrip opened at Rs. 1938.95 and has touched a high and low of Rs. 1962.40 and Rs. 1897.05 respectively. So far 3678 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2484.00 on 30-Jul-2024 and a 52 week low of Rs. 1441.75 on 18-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1962.40 and Rs. 1770.65 respectively. The current market cap of the company is Rs. 12411.13 crore.
The promoters holding in the company stood at 69.62%, while Institutions and Non-Institutions held 23.72% and 6.67% respectively.
Zydus Wellness is all set to enter into a definitive agreement to acquire Naturell (India) (NIPL) including its wholly owned subsidiary, a leading healthy snacking company engaged in the business of manufacturing, research and development and marketing of Nutrition bars, Protein cookies, Protein Chips and health food products.
NIPL’s business portfolio includes brands - Ritebite Max Protein (Protein fueled healthy snacks) and Ritebite (fiber-enriched snacks). It commercially started its operations in 2003 and ventured into healthy snacks in 2007. The acquisition seamlessly aligns with Zydus Wellness’ strategic vision, expanding its footprint in the consumer wellness industry by foraying into the rapidly growing healthy snacking segment.
It further strengthens the company’s market presence and commitment to addressing the evolving needs and preferences of health-conscious consumers. The transaction is proposed to be funded by cash. It is expected to be EPS accretive for Zydus Wellness from the very next year post-acquisition.
The Board of Directors of Zydus Wellness at their meeting held on October 30, 2024 has approved entering into the Share Purchase Agreement (SPA) with the Promoters and other shareholders (the Sellers) of Naturell (India).
Zydus Wellness combines the best healthcare, nutrition, and cosmeceutical products to provide quality wellness products.
