M&a-hungry Marico Buys Majority Of Protein-products Firm Cosmix

Credit: Cosmix Wellness and Marico.

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

The Rs2.25bn ($25m) transaction will grow Marico’s “presence successful premium nutrient and nutrition categories”, nan FMCG group said.

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Last month, Marico bought much than 90% of Zea Maize, nan Indian institution down nan 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 head and main executive, said nan finance “brings different beardown and differentiated marque into our digital-first portfolio” and pointed to “immense imaginable successful nan wellness and plant-based nutrition space”.

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

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

Marico has an action to bargain nan remaining liking successful Cosmix Wellness aft its 2029 financial year.

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

In a statement, Harish and Jagadish said: “We started Cosmix to champion cleanable ingredients and honorable connection – creating nan benignant of wellness products we wanted for ourselves and our community. Partnering pinch 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 finance successful Skinetiq, which owns skincare marque Candid.