Marico has announced a 54 percent equity holding in HW Wellness Solutions as part of a strategic initiative.
True Elements, a brand in the healthy breakfast and snack market, is owned by HW Wellness Solutions. Puru Gupta (CEO) and Sreejith Moolayil co-founded it (COO).
Its product line includes Western and Indian breakfast and snack items.
“True Elements is another step toward extending our total addressable market in the healthy foods area,” stated Saugata Gupta, MD and CEO of Marico.
We believe the brand’s ethos is complementary to Marico’s mission. The intriguing line of products brings the uncommon and virtuous combination of quality, flavour, and health at an affordable price to life.
This adds yet another digital-first brand to our portfolio, one that not only has a unique offering but also has excellent fundamentals and a rising digital and offline presence.”
“We are happy to have forged a strategic cooperation with Marico,” Puru Gupta remarked. True Elements has always focused on remaining True across all of its touchpoints, including Purpose, People, Product, and Planet, and we’re happy to have found a partner who shares this philosophy.
True Elements’ initial phase of growth was founded on a portfolio of revolutionary Clean Food and a high level of consumer confidence; while we will continue to do so, our next phase will be focused on long-term brand building and accelerating our entry into newer households.”
“We see great synergies with Marico in terms of our objectives for the brand,” Moolayil continued, “and are certain that this cooperation will further strengthen our commitment of offering clean, healthy, and no-nonsense food.”
Marico Ltd, the owner of the direct-to-consumer snack brand True Elements, announced on Monday that it has acquired a majority position in HW Wellness Solutions Pvt Ltd.
According to Marico’s exchange filing, the Mumbai-based business purchased a 53.98 percent equity investment in the digital-first “healthy breakfast” brand through primary infusion and secondary buyouts.
True Elements has a diverse product line that includes oats, quinoa, muesli, granola, flakes, poha, upma, and dosa, as well as snacks (roasted seeds, seed mixes, and raw seeds). We believe the brand’s ethos is complementary to Marico’s mission.
“The new line of goods brings to life the rare and virtuous balance of quality, flavour, and health at an affordable price,” adds Marico’s managing director and chief executive officer, Saugata Gupta.
“With this acquisition, we now have another digital-first brand in our portfolio that not only has a unique concept but also has excellent fundamentals and a rising digital and offline presence,” he says.
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