Englewood Cliffs, NJ--Unilever announced in a press releasethat it had signed an agreement to acquire San Francisco-basedOLLY Nutrition, and expressed excitement in a tweetannouncing the deal: Thrilled to announce that @OLLYnutrition is joining Unilever!
“We are delighted to welcome OLLY Nutrition to our portfolio of brands,” Amanda Sourry, president of Unilever North America, said in the release. "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, a B Corp that "believes good health is the foundation of happiness," according to the release, is known for its gummy vitamins and supplements, protein powders and snack bars. The company was co-founded in 2014 by Eric Ryan, who will assume the role of chief growth officer, focused on exploring new opportunities in the wellbeing market. Gerry Chesser, current COO of OLLY, will assume the role of CEO of OLLY, which will continue to be based in San Francisco.
“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," Ryan said in the release.
Unliver did not disclose the terms of the deal, and noted that the acquisition is subject to regulatory approvals and customary closing conditions.
