Marico gains full ownership of HW Wellness owner of True Elements in ₹138 crore deal

Marico Ltd. is the well known FMCG (fast moving consumer goods) company, has decided to buy the remaining 46.02% stake in HW Wellness Solutions Pvt. Ltd., the company that owns the healthy food brand True Elements. The deal is valued at ₹138 crore, and once completed, Marico will own 100% of HW Wellness, making it a wholly owned subsidiary. Marico’s shares closed slightly lower at ₹733.10 on the NSE, just before the official announcement of the acquisition.

Marico first invested in HW Wellness in May 2022, purchasing a majority stake of 53.98%. At that time, Marico highlighted its interest in growing in the healthy breakfast and snacking space and building its portfolio of digital-first brands.

About HW Wellness and True Elements
HW Wellness was founded in 2013 and is based in Pune. The company offers a range of healthy and tasty packaged foods under the True Elements brand. Its business has been growing quickly:

FY2022-23: ₹57.4 crore
FY2023-24: ₹76.4 crore
FY2024-25: ₹164.4 crore
This sharp rise in revenue shows the growing demand for nutritious and convenient food options.

Why This Acquisition Matters
By fully acquiring HW Wellness, Marico will strengthen its position in the healthy foods market, add a strong digital first brand to its portfolio, and expand its direct to consumer presence across both online and offline channels. According to Marico’s MD and CEO, Saugata Gupta, the True Elements brand aligns well with the company’s purpose by offering consumers the right balance of quality, taste, and health at an affordable price.