Marico Limited has announced its plan to acquire the remaining 46.02% stake in HW Wellness Solutions Pvt. Ltd., the parent company of the digital-first health food brand True Elements, for ₹138 crore. This transaction will increase Marico’s ownership from 53.98% to 100%, making HW Wellness a wholly-owned subsidiary. The acquisition is expected to be completed by September 30, 2025, subject to customary approvals.
Founded in 2013 by Puru Gupta and Sreejith Moolayil, HW Wellness has become a leading name in India’s healthy breakfast and snacks market. True Elements offers a diverse range of clean-label products such as oats, muesli, granola, and roasted seed mixes, aimed at health-conscious consumers. The brand has built a strong presence through online platforms and is now available in over 12,000 retail outlets across the country.
Marico’s initial investment in HW Wellness in May 2022, when it acquired a majority stake of 53.98%, marked its entry into the health foods sector. The full acquisition reflects the company’s broader strategy to strengthen its foothold in the fast-growing health and wellness segment by leveraging True Elements’ innovative product portfolio and digital-first approach.
True Elements has seen robust growth in recent years. Its turnover rose from ₹57.40 crore in FY23 to ₹76.42 crore in FY24 and further to ₹164.38 crore in FY25, underscoring the increasing consumer appetite for nutritious and convenient food products.
For Marico, this acquisition represents a strategic expansion that complements its existing portfolio. By integrating True Elements’ offerings with its established distribution network, Marico aims to enhance its position in the health foods market and tap into evolving consumer trends. The partnership will allow the company to scale operations, introduce new products, and strengthen its brand presence.
The acquisition also signals Marico’s commitment to diversifying its business and entering new growth areas. As health and wellness continue to be key consumer priorities, Marico’s strengthened presence through True Elements positions it well to meet these demands.
As the transaction moves toward completion, industry observers will watch closely to see how Marico leverages this acquisition to drive long-term growth and innovation in the health foods space. With this move, the company is poised to further capitalize on emerging trends and consumer preferences in India’s dynamic food industry.