India: Marico acquires majority stake in Cosmix

Marico, the Indian consumer goods giant, has announced it is to acquire a 60% stake in Cosmix Wellness, a digital-first functional wellness brand.

The deal, valued at 226 crore INR ($25 million), implies an equity valuation of approximately 375 crore INR ($41.5 million) for the Bengaluru-based firm. Founded in 2019 by Vibha Harish and Soorya Jagadish, Cosmix offers a range of plant-based protein powders, fermented yeast protein powders and functional superfood blends. It has also recently expanded into the functional foods segment with products such as plant-protein pancake mixes and bars.

According to the company, the acquisition aligns with its strategy to strengthen its digital-first portfolio and expand its presence in the premium food and nutrition categories. Saugata Gupta, managing director and CEO of Marico, commented: “The investment in Cosmix brings another strong and differentiated brand into our digital-first portfolio. We foresee immense potential in the wellness and plant-based nutrition space, and Cosmix has already demonstrated deep consumer resonance with its best-in-class, innovative offerings”.

The move follows Marico’s acquisition of the snacking brand 4700BC in January as the group seeks to increase the revenue contribution of its food and premium personal care businesses.

Source: Financial Express / Just Food / Entrepreneur India / Indian Retailer