Zydus Wellness Ltd. acquired 98.14% stake in Naturell (India) Pvt. Ltd. on Nov 29, the company said to the exchanges on Saturday. As a part of the share–purchase agreement with the promoters and other sellers, Zydus Wellness completed the transaction transaction with the sellers.
Zydus Wellness is in the process to buy remaining 1.86% stake of Naturell India. The company expects to complete the process shortly, it said in the exchange filing.
In late October, Zydus Wellness announced that it's acquiring 100% stake in Naturell India along with its wholly–owned subsidiary for Rs 390 crore. As a part of the acquisition, it acquired 1.51 crore equity share of Rs 1 each.
The transaction was proposed to be funded in cash. The acquisition is expected to be earnings-per-share accretive for Zydus Wellness from the very next year post-acquisition.
The intent behind the acquisition is to foray into healthy snack market. Naturell India started operation in 2007. It manufactures, conducts research, develops, and markets nutritional bars, protein bars, and protein chips and other healthy products.
Zydus Wellness share price closed 0.17% higher at Rs 2,018.00 apiece on Friday. Its market–cap increased Rs 659.49 crore to Rs 19,264.54 crore.
In 12 months, Zydus Wellness rose 30.62% and 20.45% on year to date basis. The stock hit a 52–week high of Rs 2,848.00 apiece on July 30. It touched the 52–week low of Rs 1,440.15 apiece on March 18.
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