- 24 May 2022
- ICICIdirect Research
MARICO ANNOUNCES STRATEGIC INVESTMENT IN HW WELLNESS SOLUTIONS
MARICO - 628 Change: -13.00 (-2.03 %)News: Marico has announced a strategic investment in HW Wellness Solutions, owner of health food brand True Elements, with an acquisition of 54% equity stake through primary infusion and secondary buyouts. True Element, a clean label, digital-first brand is in the healthy breakfast and snacks segment and clocked sales of Rs. 54 crore during FY22. Their portfolio includes western breakfast such as oats, quinoa, muesli, granola, flakes and Indian breakfast including poha, upma and dosa among others
Views: Marico is focusing on foods & new age digital only brand. It has extended Saffola in multiple new products in last two years & acquisition of New digital only brand also helped in driving growth. It will take the foods business to Rs. 800-1000 crore & digital only brand to Rs.400 crore by FY24. The current acquisition is also in the same direction of expanding non-oil businesses for future growth
Impact: Positive