Marico to Fully Acquire True Elements Owner HW Wellness for ₹1.38 Billion

Marico Ltd. will buy the remaining 46.02% stake in HW Wellness Solutions Pvt. Ltd. for ₹1.38 billion in cash by September 30, raising its holding to 100% and making the company a wholly-owned subsidiary, it said in a filing Thursday.

Marico had picked up a 53.98% stake in May 2022, acquiring control of HW Wellness, which owns the True Elements brand of clean-label, whole-grain and plant-based snacks, breakfast mixes, and seed mixes sold via digital platforms.

The investment is aimed at expanding Marico’s foods and nutrition portfolio beyond edible oils and tapping into younger, health-conscious consumers.