Marico Limited has acquired the remaining 46.02% stake in HW Wellness Solutions, owner of health foods brand True Elements, for up to ₹138 crore, taking its ownership to 100%.
The Pune-based digital-first brand, co-founded in 2013 by Puru Gupta and Sreejith Moolayil, has seen rapid growth with revenue rising to ₹164.38 crore in FY25 from ₹76.42 crore in FY24. The deal strengthens Marico’s play in the healthy breakfast and snacks segment.
Separately, Marico reported a 9% year-on-year profit rise to ₹513 crore and a 23% revenue jump to ₹3,259 crore in Q1 FY25, aided by higher ad spends, though international markets faced cost and currency pressures.