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Marico buys 60% stake in protein brand Cosmix & more related News Here

Marico buys 60% stake in protein brand Cosmix

Mumbai: Marico has bought 60% majority stake in D2C wellness brand Cosmics for Rs 226 crore, accelerating the acquisition of new-age startups as consumers look for better value and diverse options that meet specific needs, increasingly moving away from run-of-the-mill products.Cosmix sells a line of plant-based protein powders and functional superfood blends. This development comes days after the company purchased Popcorn brand 4700BC from PVR-Inox. In an exchange filing on Wednesday, Marico said the company has the right to acquire the remaining stake in Cosmics after FY29. The deal values ​​the startup at around Rs 375 crore.Founded in 2019 by husband-wife Vibha Harish and Surya Jagadish, Cosmix is ​​profitable and has recently entered categories such as plant-protein pancake mixes and bars.

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