USV buys 79% stake in Wellbeing Nutrition, bets on weight loss therapy
The deal values the D2C nutraceutical brand at Rs 1,583 crore as it co-develops oral GLP-1 delivery systems. The deal comes with exits for early investors Fireside Ventures and HUL, which are seeing up to 15x returns.
Indian pharmaceutical major USV has signed a definitive agreement to acquire a 79% stake in direct-to-consumer (D2C) brand Wellbeing Nutrition, valuing the company at Rs 1,583 crore, as the drugmaker pivots toward the high-growth weight management and clinical nutrition sector.
The all-cash transaction facilitates a complete exit for early investors Fireside Ventures and consumer goods giant Hindustan Unilever, each holding a 19.8% stake. The deal marks a significant liquidity event with Fireside Ventures clocking an approximate 15-fold return on its initial investment, while HUL secured a 5-fold gain.
Beyond the immediate change in ownership, the acquisition signals a major strategic entry into the GLP-1-based weight-loss market. While patents for key weight-loss drugs are expiring, USV and Wellbeing Nutrition are jointly developing oral, simpler delivery mechanisms for GLP-1 therapies, instead of current injectable treatments.
The collaboration is also targeting the side effects associated with these rapid weight-loss treatments, specifically the loss of muscle mass known as sarcopenia. The company plans to introduce clinical-grade protein supplements fortified with ingredients designed to aid muscle synthesis in patients undergoing GLP-1 therapy.
"We really want to go out and break the norm on how nutrition as a category in India has been built," Wellbeing Nutrition founder Avnish Chhabria shared with YourStory, noting that the new GLP-1 focused product lines are expected to hit the market within the next 12 to 18 months.
Operational integration will focus on leveraging USV’s deep pharmaceutical network. While Wellbeing Nutrition currently derives about 15% of its retail sales from doctors and hospitals, the brand aims to significantly expand its offline footprint by tapping into USV’s extensive medical representative network to drive doctor-led prescriptions.
“This acquisition dovetails strongly with our strategy to build a future-facing healthcare portfolio that responds to the changing aspirations of Indian consumers. Their success across channels, particularly through their own platform, and their premium, clinically backed portfolio positions us well to accelerate growth while maintaining high standards of quality, compliance, and ethics that USV has been known for. We look forward to unlocking the next phase of growth by leveraging USV’s global capabilities while preserving Wellbeing Nutrition’s core mission of transparent, sustainable, and high-quality nutrition," shared Prashant Tewari, Managing Director of USV.
Founded in 2019, Wellbeing Nutrition has reported a sharp growth trajectory, with net revenues expected to close at over Rs 260 crore for the fiscal year 2026, up from Rs 112 crore the previous year. The company projects revenue will cross Rs 400-450 crore by FY27 and anticipates becoming EBITDA positive by the end of the current year.
Under the terms of the deal, Chhabria will retain a minority stake of approximately 21% alongside employees until March 2028 to ensure leadership continuity before a final assured acquisition by USV.
Kotak Mahindra Capital Company Limited acted as the exclusive financial advisor to the sellers and Wellbeing Nutrition.
Edited by Jyoti Narayan