India: Marico to fully acquire HW Wellness Solutions

Leading Indian FMCG firm Marico has announced that it has entered into a definitive agreement to acquire the remaining  shares of HW Wellness Solutions, which owns the True Elements brand, for up to 138 crore ($15.18 million).

Founded in 2013, HW Wellness has reportedly become a leading digital-first business in the breakfast and snack foods space, following Marico’s 53.98% stake acquisition in 2022.

The True Elements range includes products such as breakfast cereal, grains, seeds, dried fruit and nuts.

The company stated that the move aligns with its wider strategy to strengthen its position in the fast-expanding health and wellness foods sector. By bringing True Elements into its portfolio, the FMCG major intends to harness the brand’s digital-first strengths and diverse product line to drive deeper penetration in a category that has recorded double-digit growth in recent years, it added.

Source: Financial Express