23rd Apr 2019 09:23
LONDON (Alliance News) - Unilever PLC said on Thursday last week it will acquire US supplements firm OLLY Nutrition for an undisclosed sum.
OLLY is best known for its gummy vitamins and supplements, but it also sells snack bars and protein powders.
Consumer goods firm Unilever, which makes Dove deodorant and Lipton tea, said that OLLY will continue to be based in San Francisco.
Amanda Sourry, president of Unilever North America, said: "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."
OLLY will remain under the management of Eric Ryan, who will take on the role of chief growth officer. Ryan will explore more "opportunities in the health and wellbeing area". Gerry Chesser, OLLY's current chief operating officer, will become OLLY's new CEO.
Shares in Unilever were down 0.5% at 4,482.00 pence on Tuesday morning.
Related Shares:
Unilever