M&A-hungry Marico buys majority of protein-products firm Cosmix

Marico has made different acquisition, snapping up a 60% involvement successful Indian protein-products concern Cosmix Wellness.

The Rs2.25bn ($25m) transaction volition grow Marico's “presence successful premium nutrient and nutrition categories”, the FMCG radical said.

Last month, Marico bought much than 90% of Zea Maize, the Indian institution down the 4700BC snacks brand.

Cosmix Wellness, founded successful 2019 by husband-wife duo Vibha Harish and Soorya Jagadish, sells plant-based macromolecule powders, pancake mixes and plant-protein bars nether its namesake brand.

Saugata Gupta, Marico’s managing manager and main executive, said the concern “brings different beardown and differentiated marque into our digital-first portfolio” and pointed to “immense imaginable successful the wellness and plant-based nutrition space”.

Food is simply a tiny portion of Marico’s concern erstwhile measuring yearly revenues. In the company’s 2024-25 fiscal year, it generated gross from operations of Rs108.31bn, up 12% year-on-year.

However, the group’s nutrient division, which is centred astir its Saffola brand, saw its gross leap 44% to much than Rs9bn and the institution is looking to physique its beingness successful the sector.

Marico has an enactment to bargain the remaining involvement successful Cosmix Wellness aft its 2029 fiscal year.

In its filing, Marico said the institution has been "bootstrapped and profitable" since it was formed, scaling to astir Rs100bn yearly recurring gross with a “sustainable precocious teen EBITDA borderline profile”.

In a statement, Harish and Jagadish said: “We started Cosmix to champion cleanable ingredients and honorable connection – creating the benignant of wellness products we wanted for ourselves and our community. Partnering with Marico is simply a defining infinitesimal for that mission. We spot unthinkable synergies successful R&D, manufacturing and more.”

Marico has besides been expanding beyond food. The institution has entered Vietnam’s direct-to-consumer marketplace via a Rs2.61bn concern successful Skinetiq, which owns skincare marque Candid.

"M&A-hungry Marico buys bulk of protein-products steadfast Cosmix" was primitively created and published by Just Drinks, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.