Marico, a leading FMCG company in India, has announced the acquisition of the remaining 46.02% stake in HW Wellness Solutions Pvt. Ltd. This takes Marico’s total ownership in the healthy foods brand True Elements to 100%. The deal is valued at up to Rs 138 crore and is expected to be completed by the end of September 2025.
About True Elements and the Acquisition
True Elements is a Pune-based health food startup founded in 2013 by Puru Gupta and Sreejith Moolayil. The brand is known for its digital-first approach and focus on clean, nutritious breakfast and snack options like oats, muesli, granola, seeds, millet, and healthy snack bars. The brand also launched a sub-brand called RS by True Elements with the support of cricketer Rohit Sharma.
Marico initially acquired a 53.98% stake in True Elements’ parent company in 2022. This latest buyout of the remaining shares now makes True Elements a wholly-owned subsidiary of Marico.
Strategic Importance for Marico
This acquisition aligns with Marico’s strategy to expand in the growing health and wellness food market, which has seen strong demand in recent years. The healthy snacks and breakfast segment where True Elements operates has been growing rapidly, fueled by health-conscious consumers.
True Elements’ revenue surged from Rs 57.40 crore in FY23 to Rs 76.42 crore in FY24 and reached Rs 164.38 crore in FY25. This impressive growth shows the rising popularity of clean-label, nutritious foods.
Marico aims to leverage True Elements’ digital presence and product range to strengthen its portfolio beyond traditional FMCG products like edible oils and hair care. The acquisition will help Marico deepen its reach in health-focused food products and tap into the younger, wellness-oriented market segment.
What This Means for the Market
With this full acquisition, Marico is set to build on True Elements’ agility and innovation in the health foods space. It also highlights the increasing trend of major FMCG firms investing heavily in health and wellness brands to capture evolving consumer preferences in India. This move is expected to strengthen Marico’s position and accelerate growth in the fast-growing segment of nutritious and convenient foods.