Marico Acquires Full Ownership of True Elements: Deal Valued at ₹138 Crore

Marico Ltd has completed the acquisition of the remaining 46.02% stake in HW Wellness Solutions Pvt Ltd, the company behind the True Elements brand. The deal, valued at up to ₹138 crore, was finalised on October 17, 2025, making HW Wellness a wholly owned subsidiary of Marico. This raises Marico’s stake from 53.98% to 100%, solidifying its footprint in the health-oriented food segment.

Strategic Investment in Fast-Growing Wellness Brand

Marico first invested in HW Wellness in May 2022 as part of its strategy to expand its presence in the healthy breakfast and snacking category. Founded in 2013 and headquartered in Pune, HW Wellness has seen impressive growth, with its revenue rising to ₹164.4 crore in FY25, up from ₹76.4 crore in FY24, underscoring strong momentum in the digital-first packaged food market.

Also Read: Ujjivan Small Finance Bank Posts ₹7,932 Crore Disbursements in Q2

Marico Q2 FY26 Outlook 

Marico also shared an optimistic outlook for the September quarter (Q2 FY26), expecting year-on-year revenue growth in the thirties, buoyed by robust international performance and recent GST reductions on parts of its India portfolio. While the company anticipates modest growth in operating profit, it attributes this to steady consumer demand and an improving festive season sentiment.

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