Nourish You, a Hyderabad-based superfood company, has announced the 100% acquisition of One Good, a Bangalore-based vegan dairy startup, in one of the largest M&A deals in India’s alternative dairy industry.
Nourish You expands its plant-based portfolio with One Good
Nourish You, which offers a range of superfood grains and products such as chia, millet, mueslis and quinoa flour, has acquired One Good, which offers vegan alternatives to butter, ghee, mayonnaise, peanut curd and cheese as well as its flagship brand of cashew-oat-millet milk.
The acquisition will help Nourish You to strengthen its position as a key player in India’s alternative dairy industry, as it capitalises on the online presence of One Good to expand its retail reach. Both brands will remain separate, but operations are expected to merge under a restructuring plan.
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.
One Good joins Nourish You with a shared vision of animal welfare and sustainability
One Good was founded in 2016 under the name Goodmylk by Abhay Rangan, a passionate vegan and animal rights activist, along with his mother Veena and his partner Radhika Datt. The startup aims to create affordable and accessible plant-based alternatives for dairy products, without compromising on taste, nutrition or quality.
One Good has a strong online presence, with its products available on its own website as well as on platforms like Amazon, BigBasket, Dunzo and Swiggy. The startup also has a loyal customer base, with over 70% of its sales coming from repeat orders.
Speaking on becoming a part of the Nourish You family, Rangan said, “Our journey towards creating One Good was ignited by a passion for animal rights and a dedication to accessible and affordable plant-based alternatives for all. We are excited about being a part of Nourish You’s incredible platform and leveraging their scale and operational excellence to build India’s biggest plant-based dairy company.”
Nourish You and One Good aim to tap into the growing demand for plant-based foods in India
According to a report by Research and Markets, the Indian plant-based food market is expected to grow at a CAGR of 10.1% from 2020 to 2027, reaching USD 1.8 billion by 2027. The report cites the rising awareness of health and wellness, animal welfare, and environmental sustainability as the key drivers for the growth of this market.
Nourish You and One Good are well-positioned to cater to this growing demand, as they offer a variety of plant-based products that are not only healthy and delicious, but also ethical and eco-friendly. The two brands share a common vision of nourishing consumers, farmers, and the planet, while also promoting animal welfare and veganism.
Speaking on the acquisition, Krishna Reddy, co-founder of Nourish You, said, “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.”