Superfoods player based out of Hyderabad, Nourish You, has acquired 100% stake in Bengaluru-based vegan dairy player One Good and is eyeing a Rs 50-60 crore fundraise via a Series-A round by June 2024.
The deal, which is being touted as one of the largest merger & acquisition deals in India’s burgeoning plant- based foods ecosystem, was conducted through a share swap and will see One Good founders get a minority stake in Nourish You.
With this, the leadership team of One Good, which includes its CEO & co-founder Abhay Rangan, co-founder & CFO Radhika Datt and COO Dhivakar Sathyamurthy, will also be joining the Nourish You leadership team.
Pointing out that the move marks the evolution of Nourish You from being a superfoods player to a plant-based brand, Nourish You co-founder Krishna Reddy said the acquisition integrates its commitment to animal welfare with existing values of nourishing consumers, farmers, and the planet while making plant-based foods affordable and accessible.
Nourish You, which is backed by marquee investors like Zerodha’s Nikhil Kamath, actor Samantha Ruth Prabhu, Darwinbox co-founder Rohit Chennamaneni, Triumph Group’s Y Janardhana Rao, KIMS Hospitals’ Abhay Bollineni, among others, started out with pioneering the cultivation of superfoods Quinoa and Chia in the country in 2015 with 50 acres.
Today, Nourish You has around 5,000 acres under cultivation across Rajasthan, Madhya Pradesh, Andhra Pradesh and Karnataka. One Good was set up in 2016 as Goodmylk.
Source: Times of India
