Marico signs agreement to acquire majority stake in Satiya Nutraceuticals

Marico Limited has announced that it has signed definitive agreements to acquire a majority stake in Satiya Nutraceuticals which owns the brand, “The Plant Fix- Plix”, a digital-first, clean label, plant-based nutrition brand. 

In an all cash deal, the maker of Parachute Coconut oil will buy the stake in the company for an aggregate consideration of upto Rs 369 crore. 

In a stock exchange filing Marico said that the acquisition of 32.75 per cent of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, through primary infusion and secondary buyouts is expected to be completed on July 26. It also said, “Acquisition of remaining 25.25 per cent of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, to be completed in one or more tranches by May 2025, subject to terms and conditions of the definitive agreements.” 

Saugata Gupta, MD and CEO, Marico said in the filing, “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.”