Marico Ltd. on Thursday said it has signed a definitive agreement to acquire the remaining 46.02% equity stake in HW Wellness Solutions Private Limited, the company behind the “True Elements” brand.The deal, valued at up to ₹138 crore, will raise Marico’s holding from 53.98% to 100%, making HW Wellness its wholly owned subsidiary.
Marico first invested in HW Wellness in May 2022, citing its ambition to scale up in the healthy breakfast and snacking space and strengthen its portfolio of digital-first brands. The company said the acquisition aligns with its strategy to accelerate growth in emerging food categories while deepening its digital transformation journey.
Founded in 2013 and headquartered in Pune, HW Wellness has built a strong presence in the packaged foods industry. Its revenues grew to ₹164.4 crore in FY25 from ₹76.4 crore in FY24.
Shares of Marico ended 0.20% lower at ₹733.10 on the NSE on Thursday, ahead of the announcement.
