Marico Limited has acquired a 54% equity in HW Wellness Solutions Private Limited through primary infusion and secondary buy-outs. Co-founded by Puru Gupta and Sreejith Moolayil, HW Wellness Solutions Private Limited owns True Elements – a digital-first brand playing in the healthy breakfast and snacks segment in India.
True Elements is another step towards expanding Marico’s total addressable market in the healthy foods segment, Saugata Gupta, MD and CEO, Marico Limited, said. “We believe the ethos of the brand complements the purpose that drives Marico. 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,” he added.
True Elements claims to have 0% preservatives, 0% chemicals and 0% added sugar in its offerings. Offering a wide range of over 70 products spanning across categories of western breakfast (Oats, Muesli, Granola, Flakes), Indian breakfast (Poha, Upma, Dosa), Snacks (roasted seeds, seed mixes, raw seeds) amongst others. Currently available in over 90 online platforms and in over 12,000 retail outlets, True Elements plans to ramp up its offline presence over the next few years. “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. True Elements built its first phase of growth behind a portfolio of innovative clean food and building high consumer trust- while we continue to push the bar on those, our next phase will be focused on long term brand building and accelerating our entry into newer households,” Puru Gupta, CEO and co-founder, True Elements, said.
“In addition to value systems, we see strong synergies with Marico in terms of our aspirations for the brand and are confident that this partnership will only make our promise of providing clean, healthy and no-nonsense food much stronger,” Sreejith Moolayil, COO and co-founder, True Elements, stated.
Marico is one of India’s leading consumer products companies, in the global beauty and wellness space. During FY 2021-22, Marico recorded a turnover of about Rs 95 billion through its products sold in India and chosen markets in Asia and Africa.