India-based consumer goods giant Marico is set to strengthen its position in the food and beverage industry through a majority stake acquisition in Satiya Nutraceuticals, the owner of direct-to-consumer brand The Plant Fix-Plix (Plix).
Marico, already holding a 32.75% stake in Satiya Nutraceuticals, plans to increase its ownership to 58% by purchasing additional shares. The financial details of the transaction were not disclosed, but the deal is scheduled to be finalized in May 2025, as stated in a stock-exchange filing by Marico.
Marico CEO Saugata Gupta commented on the strategic move, stating, “In line with our diversification strategy, the investment in Plix not only expands our presence in the value-added wellness foods and nutrition segments, but also incorporates a digital-first brand with a unique value proposition into our portfolio.”
Plix, a plant-based nutrition brand with a strong digital presence, operates through direct-to-consumer sales and third-party e-commerce marketplaces. The brand aims to expand its offline reach in the coming years while offering products in the weight management, hair and beauty, and sleep and lifestyle nutrition categories.
“Through our partnership with Marico, we intend to enhance the brand’s reputation, accelerate growth by entering new categories and channels, and leverage Marico’s core competencies,” expressed Rishubh Satiya and Akash Zaveri, co-founders of Plix. “We foresee compelling synergies that align with our brand’s aspirations, making this a fruitful strategic partnership for the future.”
Marico, one of India’s largest consumer goods groups, is known for its diverse portfolio encompassing skincare, hair care, personal care, and food products. Saffola, its flagship food brand, focuses on “better-for-you” offerings like edible oils, breakfast items, “healthy” snacks, and plant-based protein.
Gupta highlighted the success of Saffola in entering new markets despite challenges in the edible oil sector. Marico aims to achieve food revenues of over Rs8.5bn next year.
In its latest annual report, Marico revealed that its edible oil business accounted for 60% of its total annual turnover of Rs97.64bn ($1.18bn). Personal care represented 26% of the turnover, while packaged foods contributed 6%.
Marico previously acquired HW Wellness Solutions for Rs1.68bn, a digital-first food business focused on the healthy breakfast category.
