{"id":1261451,"date":"2023-07-29T06:43:15","date_gmt":"2023-07-29T01:13:15","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261451"},"modified":"2023-07-29T06:43:58","modified_gmt":"2023-07-29T01:13:58","slug":"this-indian-d2c-food-brand-will-get-rs-369-crore-from-marico-for-acquiring-58-stake","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/this-indian-d2c-food-brand-will-get-rs-369-crore-from-marico-for-acquiring-58-stake\/","title":{"rendered":"This Indian D2C Food Brand Will Get Rs 369 Crore From Marico For Acquiring 58% Stake"},"content":{"rendered":"\n

Marico has signed definitive agreements to acquire up to 58% stake in Satiya Nutraceuticals for Rs 369 crore ($45 million).<\/p>\n\n\n\n

\"This<\/figure>\n\n\n\n

Plix acquired<\/strong><\/p>\n\n\n\n

Satiya Nutraceuticals is headquartered in Mumbai and owns \u201cThe Plant Fix- Plix\u201d, a digital-first, plant-based nutrition brand which achieved sales of Rs 106 crore last fiscal.<\/p>\n\n\n\n

Plix was founded in 2018 by Rishubh Satiya and Akash Zaveri.<\/p>\n\n\n\n

It has a range of products covering weight management, hair & beauty, sleep and lifestyle nutrition categories.<\/p>\n\n\n\n

Deal components<\/strong><\/p>\n\n\n\n

According to the deal, Marico has acquired 32.75% stake on a fully diluted basis and requisite majority control over its board composition and total voting rights.<\/p>\n\n\n\n

Satiya Nutraceuticals has now become a subsidiary <\/a>of the company and the acquisition of remaining stake of 25.25% on a fully diluted basis will be completed in tranches by May 2025.<\/p>\n\n\n\n

Plix’s existing leadership team will continue <\/a>to run the brand independently.<\/p>\n\n\n\n

Expansion to health and wellness<\/strong><\/p>\n\n\n\n

The deal benefits both parties. <\/p>\n\n\n\n

Marico will be able to expand its presence in the health and wellness category.<\/p>\n\n\n\n

\u201cIn line with our strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments, but also brings another digital-first brand with a distinct value proposition into our fold,\u201d said Marico\u2019s managing director and chief executive officer (CEO) Saugata Gupta.<\/p>\n\n\n\n

“We are confident that the innovative range of plant-based products, combined with robust fundamentals, will propel the brand towards expanding <\/a>its footprint in chosen product categories and marketplaces.\u201d<\/p>\n\n\n\n

Move beyond D2C<\/strong><\/p>\n\n\n\n

While its presence is mostly D2C and third-party E-commerce marketplaces, Plix plans to scale its offline presence over the next few years by leveraging Marico’s presence.<\/p>\n\n\n\n

Co-founders Rishubh Satiya and Akash Zaveri said, \u201cWe are delighted to partner with Marico\u2026 In partnership with Marico, we will prioritise strengthening the brand\u2019s equity and expedite growth by expanding into new categories and channels.<\/p>\n\n\n\n

In addition to leveraging Marico\u2019s core competencies, we foresee <\/a>compelling synergies that align with our brand\u2019s aspirations, thereby signifying a fruitful strategic partnership in the years ahead.\u201d<\/p>\n\n\n\n

Fast-growing segment<\/strong><\/p>\n\n\n\n

The plant-based food category is an emerging segment in India estimated to be about Rs 2,000 crore strong with the entry of more than 250 startups over the past few years, according to Plant Based Foods Industry Association.<\/p>\n\n\n\n

It has witnessed <\/a>a string of acquisitions by FMCG majors in the past year, such as ITC\u2019s acquisition of Yoga Bar and Hindustan\u2019s Unilever picking up stakes in OZiva and Wellbeing Nutrition.<\/p>\n\n\n\n

On track to Rs 400 cr<\/strong><\/p>\n\n\n\n

Morgan Stanley said <\/a>that Plix brand will help Marico achieve Rs 400 crore revenue target in FY24.<\/p>\n\n\n\n

\u201cThe acquisition will help Marico expand into value-added wellness and nutrition portfolio and has a target of scaling up its foods, digital-first and personal care portfolios,\u201d it said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Marico has signed definitive agreements to acquire up to 58% stake in Satiya Nutraceuticals for Rs 369 crore ($45 million). Plix acquired Satiya Nutraceuticals is headquartered in Mumbai and owns \u201cThe Plant Fix- Plix\u201d, a digital-first, plant-based nutrition brand which achieved sales of Rs 106 crore last fiscal. Plix was founded in 2018 by Rishubh […]<\/p>\n","protected":false},"author":24,"featured_media":1261513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[886],"class_list":["post-1261451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-d2c"],"acf":[],"yoast_head":"\nThis Indian D2C Food Brand Will Get Rs 369 Crore From Marico For Acquiring 58% Stake - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/this-indian-d2c-food-brand-will-get-rs-369-crore-from-marico-for-acquiring-58-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This Indian D2C Food Brand Will Get Rs 369 Crore From Marico For Acquiring 58% Stake - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Marico has signed definitive agreements to acquire up to 58% stake in Satiya Nutraceuticals for Rs 369 crore ($45 million). Plix acquired Satiya Nutraceuticals is headquartered in Mumbai and owns \u201cThe Plant Fix- Plix\u201d, a digital-first, plant-based nutrition brand which achieved sales of Rs 106 crore last fiscal. 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