Superfood brand Nourish You announced on Tuesday the acquisition of the vegan dairy brand One Good.
It is also in talks to raise a Series A round of funding of about ₹50-60 crore, which is expected to close by mid-next year.
Krishna Reddy, Co-founder, Nourish You, said that this acquisition will help Nourish You evolve from being a superfood brand to a plant-based brand, “embracing a more inclusive vision.”
“One Good’s journey is revolutionary. It was born with a vision of creating the next big dairy company, devoid of animals. The acquisition integrates Nourish You’s commitment to animal welfare with our existing values of nourishing consumers, farmers, and the planet. It also reinforces our commitment to make healthy, flavorful plant-based foods, affordable and accessible,” he added.
However, the brand did not comment on the commercials of the deal.
Founded in 2016 under the name Goodmylk, One Good, headquartered in Bengaluru, is known for its range of vegan dairy products, which includes milks, cheeses, chocolates, curd, ghee, and butter, among others.
The One Good team, including CEO & Co-founder Abhay Rangan, CFO & Co-founder Radhika Datt, and COO Dhivakar Sathyamurthy, will join the leadership team at Nourish You, the statement added.
Meanwhile, Nourish You aims to close this fiscal with revenue of about ₹30 crore. “We aim to reach the ₹100 crore mark by the end of FY25, depending on the pace of backward integration post the acquisition,” Reddy said.
Nourish You is backed by marquee investors, including Zerodha’s Nikhil Kamath, actor and active investor Samantha Ruth Prabhu, Darwinbox’s Rohit Chennamaneni, Triumph Group’s Y Janardhana Rao, Gruhas Proptech’s Abhijeet Pai, and KIMS Hospitals’ Abhinay Bollineni, among others.
The brand offers a range of products made with fills, mueslis, and plant-based milk, which are sold in over 2,500 retail stores. The company ventured into alternative dairy with the launch of Millet Mlk earlier this year.
“Nourish You’s growing retail presence, combined with One Good’s strong direct-to-consumer engagement positions the company as the go-to destination for innovative plant-based alternatives in India,” the statement added.