Marico Limited has announced that it has signed a definitive agreement to acquire a majority stake in Satiya Nutraceuticals that owns plant-based nutrition brand Plix. “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,” said Saugata Gupta, MD and CEO, Marico Limited.
Plix is an online plant-based nutrition brand. While Plix is currently thriving on D2C and third-party e-commerce marketplaces, it plans to ramp up its offline presence over the next few years. The brand offers a portfolio of non-GMO, Vegan, Gluten-free and Cruelty-free offerings, which uses reusable & recyclable packaging. It has an extensive product range spanning across weight management, hair & beauty, sleep and lifestyle nutrition categories.
“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,” said Rishubh Satiya & Akash Zaveri, Co-founders of Plix.
Marico is a consumer products company operating in global beauty and wellness categories. During FY 2022-23, Marico recorded a turnover of Rs 97.6 billion through its products sold in India and chosen markets in Asia and Africa.