Marico picks up 58 percent stake in Satiya Nutraceuticals

FMCG firm Marico Ltd has acquired 58 percent stake in Satiya Nutraceuticals which owns personal care and wellness brand ‘Plix’ for a consideration of Rs 369 crore ($45.1 million).

The company has completed acquisition of 32.75 percent of the paid-up share capital of Satiya Nutraceuticals through primary infusion and secondary buyouts, completed on July 26, 2023.

It will acquire the remaining 25.25 percent of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, in one or more tranches by May 2025.

With this acquisition, Marico aims to further expand its market presence in the rapidly growing health & wellness segment.

Commenting on the deal, Saugata Gupta, managing director of Marico in a statement said, “In 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.”

Rishubh Satiya and Akash Zaveri, co-founders of Plix added, “In partnership with Marico, we will prioritize strengthening the brand’s equity and expedite growth by expanding into new categories and channels. In addition to leveraging Marico’s core competencies, we foresee compelling synergies that align with our brand’s aspirations, thereby signifying a fruitful strategic partnership in the years ahead.”

Satiya Nutraceuticals with a strong presence in the health and wellness segment in India had reported a turnover of Rs 106 crore in the last financial year.