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Unilever to buy food supplement brand Onnit

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·1-min read
FILE PHOTO: Unilever headquarters in Rotterdam
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(Reuters) - Unilever Plc is acquiring food supplement company brand Onnit, the consumer goods giant said on Monday, joining rival Nestle SA in expanding its portfolio of brands focused on health and nutrition.

The company did not disclose the terms of the deal but said Onnit, which makes Shroom Tech to enhance fitness and endurance, Stron Bone for bone health and brain supplement Alpha BRAIN, would continue to be based in Austin, Texas, and led by CEO Jason Havey.

Onnit was founded by fitness enthusiast Aubrey Marcus in 2010, who will continue to be its brand ambassador, Unilever said. Nestle said earlier on Monday it was in talks to acquire nutritional supplement maker The Bountiful Company, majority-owned by private equity firm KKR Co & Inc. Analysts say they expect a price tag of $5 billion to $7 billion for the maker of Nature's Bounty vitamins.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Ramakrishnan M.)