Marico acquires 54 percent stake in True Elements
The equity stake was acquired through primary infusion and secondary buyouts. As part of the deal, True Elements’ existing leadership will continue to run the brand independently.
With this acquisition, Marico aims to strengthen its foothold in the wellness and food segment while True Elements aims to leverage Marico’s retail distribution channel to fuel its growth plans.
Commenting on the deal, Saugata Gupta, managing director of Marico in a statement said, “True Elements is another step towards expanding our total addressable market in the healthy foods segment. This adds another digital-first brand in our portfolio, which not only has a distinct proposition but also exhibits strong fundamentals along with a growing digital and offline presence.”
Puru Gupta, CEO and co-founder of True Elements added, “As a brand, True Elements has always focused on staying True across all its touchpoints- including Purpose, People, Product and Planet, and we are glad to have found a partner who echoes this way of thinking.”
Founded in 2013 by Puru Gupta and Sreejith Moolayil, Pune-based True Elements is currently available in over 90 online platforms and in over 12,000 retail outlets.
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