Marico, the creator of Saffola and Parachute, said on May 23 that it had purchased a 54 percent share in breakfast and snack brand True Elements through primary infusion and secondary buy-outs. This is Marico’s first foray into the healthy breakfast and snack market, which includes companies like Soulfull, Tru Native, and Slurrp Farm, among others.
True Elements sells approximately 70 different items. Including Western breakfast (oats, muesli, granola, flakes), Indian breakfast (poha, upma, dosa). And snacks (roasted seeds, seed mixes, raw seeds), among others. True Elements is currently available on over 90 online platforms and over 12,000 retail locations, with plans to greatly expand its physical presence in the next years.
“True Elements is another step towards expanding our total addressable market in the healthy foods segment. We believe the ethos of the brand complements the purpose that drives Marico. The exciting range of products brings to life the rare. And virtuous blend of quality, taste, and health at the right price. 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.” said Saugata Gupta, MD, and CEO, of Marico, in a press statement.
Eye on D2C brands
Several FMCG businesses have bought digital-first brands in the foods. And beverages and personal care products areas, hoping to make a D2C move. Emami bought a 19 percent stake in nutrition company Tru Native in March. Soulfull was acquired by Tata Consumer Products in 2021.
Male grooming business Beardo and organic cosmetics brand Just Herbs are two of Marico’s other D2C investments. Within the next three years. The company wants to “create a portfolio of at least three Rs 100-crore plus digital companies.”