ENGLEWOOD CLIFFS, NJ. – Unilever plans to acquire Onnit, Austin, Texas, a manufacturer and marketer of functional and nutrition supplements. Terms of the agreement were not disclosed.
Onnit offers a range of products aimed at helping consumers improve brain health, mood, digestive health, bone health and performance. Its line of nutrition products includes fats and oils, protein powders and snack applications like bars and puffs.
“Onnit is a leading brand in the fast-growing nootropics segment,” said Peter ter Kulve, president of home care and health and well-being for Unilever. “With its holistic health offering and digital-first model, Onnit perfectly complements our growing portfolio of innovative wellness and supplement brands that include OLLY, Equilibra, Liquid IV, and SmartyPants Vitamins.”
Onnit will continue to be based in Austin, Texas, and led by chief executive officer Jason Havey, according to Unilever. Founder Aubrey Marcus will remain with the company as a brand ambassador.
“Since day one, my vision has been for Onnit to become a global movement, empowering people with the tools and information to reach their highest physical and mental potential,” Mr. Marcus said. “I am so proud of what we have accomplished, and now, with Unilever’s scale and presence, we are one step closer to inspiring millions more to take charge of their health and well-being.”
Nestle SA, Vevey, Switzerland, said April 26 that it is in discussions to acquire all or part of The Bountiful Co., Ronkonkoma, NY, a manufacturer and marketer of vitamins, minerals, supplements and nutrition products. Brands owned by the company include Nature’s Bounty, Pure Protein, Osteo Bi-Flex, Puritan’s Pride, Sundown and others.
Maintaining and improving overall health and wellness has become more important to some consumers during the COVID-19 pandemic. Even after the pandemic, market researchers believe interest in nutrition products will stay at elevated levels.
Market Research, Portland, Ore., forecasts the global functional food industry to have a compound annual growth rate of 6.7% from 2021 to 2027 and reach $267.92 billion, which would be up from $177.77 billion in 2019.