Marico has entered into a definitive agreement to acquire the remaining 46.02% equity stake in HW Wellness Solutions, the parent company of the digital-first healthy breakfast and snacking brand True Elements. With this move, Marico has increased its shareholding from 53.98% to 100%, making HW Wellness its wholly owned subsidiary.
The company has shared the update through a regulatory filing and has also made the disclosure available on its website.
As per the filing, the acquisition has been finalised at an aggregate consideration of up to Rs 138 crore. No regulatory approvals are required for the transaction, which is expected to be completed on or before September 30, 2025.
HW Wellness Solutions, incorporated in 2013 and headquartered in Pune, has established itself as a leading player in the healthy breakfast and snacks segment with the True Elements brand. The company has reported a turnover of Rs 164.38 crore in FY 2024–25, marking strong growth from Rs 76.42 crore in FY 2023–24 and Rs 57.40 crore in FY 2022–23.
Marico had initially invested in HW Wellness in May 2022, acquiring a majority stake of 53.98%. The latest deal now gives it complete control, furthering its strategic ambition to scale digital-first brands with strong propositions in the packaged foods space.
