Marico Acquires Full Ownership of HW Wellness Solutions for ₹138 Crore

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Marico Ltd has acquired the remaining 46.02% stake in HW Wellness Solutions Pvt Ltd, maker of the health food brand True Elements, for ₹138 crore. This strategic move gives Marico full ownership, strengthening its position in the fast-growing health and wellness segment and expanding its footprint in functional foods.

Marico Ltd, one of India’s leading FMCG companies, has completed the acquisition of the remaining 46.02% equity stake in HW Wellness Solutions Pvt Ltd for a consideration of ₹138 crore, making it a wholly-owned subsidiary. HW Wellness is best known for its flagship brand True Elements, which offers clean-label, plant-based health foods.

Major Takeaways:

Full Ownership Secured: Marico now holds 100% equity in HW Wellness, having initially acquired a 53.98% stake in May 2022. The latest transaction was finalized on October 17, 2025, following regulatory and shareholder approvals.

Deal Value: The acquisition was completed for ₹138 crore, reflecting Marico’s confidence in the long-term potential of the health food category.

Strategic Fit: True Elements aligns with Marico’s broader strategy to diversify into functional and wellness-oriented foods, complementing its existing portfolio of brands like Saffola and Coco Soul.

Brand Performance: True Elements has demonstrated strong growth in e-commerce and modern trade channels, with increasing consumer preference for clean-label, gluten-free, and nutrient-rich products.

Operational Synergies: Marico plans to leverage its distribution network, digital marketing capabilities, and R&D infrastructure to scale True Elements across India and select international markets.

Leadership Commentary: Marico’s management emphasized that full ownership will enable faster decision-making, brand integration, and innovation acceleration, positioning True Elements as a key growth driver in the health foods segment.

Notable Updates:

HW Wellness was co-founded by Puru Gupta and Sreejith Moolayil, and has built a strong brand presence in the D2C space.
The acquisition is expected to be EPS accretive over the medium term, with synergies in sourcing, packaging, and digital outreach.

With this acquisition, Marico reinforces its commitment to building a future-ready portfolio that caters to evolving consumer preferences in health, nutrition, and sustainability.

Sources: Fortune India, ScanX, Economic Times Retail

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