Unilever North America has signed an agreement to acquire Olly Nutrition.
San Francisco based Olly produces gummy vitamins and supplements, and also sells protein powders and snack bars. It was founded in 2014.
“Olly is a strong, innovative brand in the fast-growing health and wellbeing space, and nicely complements our businesses in beauty and personal care, and foods and refreshment,” said Amanda Sourry, president of Unilever North America. “Olly’s focus on making nutrition delightfully easy aligns closely with Unilever values and our continued commitment to improving people’s wellbeing.”
It isn’t Unilever’s first foray into the supplements space, but the company is hoping the third time is a charm. It acquired weight loss brand SlimFast in 2000, but the company underperformed and Unilever ultimately sold it to venture capital investors. In Europe, Unilever once owned Dextro Energy, which produced dextrose based energy drinks and bars, but sold it in 2005.
Terms of the Olly acquisition were not disclosed.