Fast-Moving Consumer Goods (FMCG) major Marico on Wednesday said it has acquired a 58 per cent stake in Direct-To-Consumer (D2C) Satiya Nutraceuticals Pvt Ltd and its wholly-owned subsidiary Juizo Advisory Pvt Ltd that owns the brand ‘The Plant Fix-Plix’. The acquisition, done at ₹369.01 crore, will be paid in one or more tranches through primary infusions and secondary buy-outs.

The company offers products in the Health and Wellness space and offers plant-based products, including protein powders, collagen boosters, anti-ageing products, peanut butter, apple cider vinegar, and snackable foods.

The acquisition of 32.75 per cent stake was completed on Wednesday, while acquisition of the remaining 25.25 per cent stake will be completed by May 2025. Marico will also have the right to acquire the remaining 42 per cent of the company at the expiry of three years from the execution date at a consideration to be determined. Marico said the acquisition would expand its addressable market in the value-added foods and nutrition segments.

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“As part of the transaction, the company has acquired a 32.75 per cent stake in Satiya Nutraceuticals on a fully diluted basis and requisite majority control over its board composition/ total voting rights on July 26, 2023, and accordingly it has become a subsidiary of the company. The acquisition of the remaining stake of 25.25 per cent on a fully diluted basis will be completed in tranches by May 2025, subject to terms and conditions of the definitive agreements,” the company said in a stock exchange filing.

Satiya Nutraceuticals Pvt Ltd (“Satiya Nutraceuticals”) was formed on February 13, 2020, in Mumbai and had a turnover of ₹106.43 crore in FY2022-2023.

Marico has been growing its D2C brands as part of a strategy to broadbase its business. The company that acquired stakes in Just Herbs, Beardo and True Elements in the domestic market, has witnessed a steady increase in business and volume growth by D2C brands ahead of the set targets made during acquisitions.

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In February, Marico told businessline that the company was scouting for acquisitions. “We have identified certain categories that are attractive and we never do acquisitions for vanity. We have a playbook now with handling so many brands and are far more confident on the path to profitability,” Saugata Gupta, Managing Director and CEO of Marico, said in a recent interview

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