Shares of Marico were trading over 2% higher after the FMCG major announced a strategic acquisition in the premium snacking space.
Marico said it has signed definitive agreements to acquire a 93.27% stake in Zea Maize Private Limited, which owns the gourmet snacking brand 4700BC, from PVR INOX for a consideration of Rs 227 crore. The transaction will allow Marico to gain a controlling interest in the fast-growing premium snack brand.
Founded in 2013 by Chirag Gupta, 4700BC pioneered the gourmet popcorn category in India and has since expanded its portfolio to include products such as popped chips, makhana, crunchy corn and nachos. The brand has built a strong presence across offline retail, e-commerce and institutional channels, including airlines and cinema halls.
Commenting on the deal, Saugata Gupta, Managing Director and CEO of Marico, said the investment aligns with the company’s ambition to scale its presence in high-growth food categories through distinctive and future-ready brands. He added that Marico plans to leverage its existing food business capabilities to expand 4700BC’s reach across channels while retaining its consumer-first approach and innovation focus.
4700BC founder Chirag Gupta described the transaction as a defining milestone for the brand, noting that while PVR INOX played a key role in building scale and credibility, Marico’s FMCG expertise will support the brand’s next phase of growth.
From PVR INOX’s perspective, Ajay Bijli, Managing Director, said the transaction marks the monetisation of a non-core asset, bringing its strategic association with the brand to a natural close.
The acquisition announcement was positively received by the market, with investors factoring in Marico’s push to strengthen its food and snacking portfolio amid rising demand for premium and convenience-led products.
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