Top FMCG, pharma firms line up to buy Wellbeing Nutrition

Top cos like Sun Pharma, Nestle, Reckitt, ITC and Cipla have been approached and the bids are due next month

- Priyamvada C, Sneha Shah & Suneera Tandon

Wellbeing Nutrition, backed by Hindustan Unilever (HUL) and Fireside Ventures, has been put on the block, with the company likely to see a strategic acquisition. The deal could value the company at around ₹1,500-1,600 crore and top pharma and FMCG players have been approached, multiple people in the know said.

"It will be a strategic sale as the company has reached a good scale. Kotak is running the process and top pharma and FMCG companies have been sounded out," one of these people said.

Top companies such as Sun Pharma, USV Pvt. Ltd, Alkem Laboratories Ltd, Dabur, Nestle, Reckitt, ITC, Torrent and Cipla Consumer have been approached and the bids are due next month, three of the people cited above said. Mint could not independently verify the potential bidders.

"The transaction is currently undergoing due diligence. HUL may also look to exit, but they have the right of first refusal and will take a decision based on demand from the other suitors," one of the people cited above said.