Marico Acquires 93.27% Stake in Zea Maize for Rs. 227 Crores
Filing Summary
Marico Limited has entered into definitive agreements to acquire a 93.27% stake in Zea Maize Private Limited, the owner of the gourmet snacking brand “4700BC,” from PVR INOX Limited. The acquisition, valued at approximately Rs. 227 Crores, will be completed within 30 days, subject to customary conditions. This strategic investment aligns with Marico’s focus on expanding its presence in the value-added foods sector. Zea Maize, known for its premium snacking products, reported a turnover of Rs. 99 Crores in FY 2024-25. Marico aims to leverage this acquisition to enhance its market position.
Marico Limited has announced the acquisition of a 93.27% stake in Zea Maize Private Limited, the company behind the premium gourmet snacking brand “4700BC.” The stake is being acquired from PVR INOX Limited, the existing holding company. The acquisition is part of Marico’s strategic investment plan and is subject to the terms and conditions outlined in the definitive agreements.
The acquisition involves a cash consideration of up to Rs. 226.83 Crores for the 93.27% stake in Zea Maize. This transaction will make Zea Maize a subsidiary of Marico upon completion. The company also retains the right to acquire the remaining stake in Zea Maize after three years, contingent upon certain milestones and approvals.
Zea Maize operates in the packaged foods industry, specifically in the premium gourmet snacking segment. The brand “4700BC” is recognized for its range of innovative snack offerings, including popcorn, popped chips, makhana, crunchy corn, and nachos. The acquisition is intended to expand Marico’s market reach in the value-added foods category by incorporating a differentiated premium brand into its portfolio.
The transaction is expected to be completed within 30 days, subject to customary closing conditions and the terms of the definitive agreements. No governmental or regulatory approvals are required for this acquisition.
The parties involved in this transaction include Marico Limited as the acquiring company and PVR INOX Limited as the seller of the stake in Zea Maize. The acquisition does not constitute a related party transaction, and the promoter group of Marico has no interest in the transaction.
Zea Maize, incorporated on July 24, 2013, under the Companies Act, 1956, is headquartered in Delhi. The company reported a turnover of Rs. 98.66 Crores for the fiscal year 2024-25, Rs. 75.29 Crores for 2023-24, and Rs. 48.47 Crores for 2022-23. The brand has established a strong presence in the organized snacking market in India, catering to urban, premium consumers.
Marico Limited is a leading consumer products company in India, operating in the global beauty and wellness categories. The company recorded a turnover of INR 10.8 billion during FY 2024-25. Marico’s portfolio includes well-known brands such as Parachute, Saffola, and Livon. The acquisition of Zea Maize aligns with Marico’s strategy to strengthen its position in fast-growing food categories through distinctive brands.