Marico Limited has acquired a 54% fairness in HW Wellness Solutions Private Limited by major infusion and secondary buy-outs. Co-founded by Puru Gupta and Sreejith Moolayil, HW Wellness Solutions Private Limited owns True Elements – a digital-first model enjoying within the wholesome breakfast and snacks phase in India.
True Elements is one other step in direction of increasing Marico’s whole addressable market within the wholesome meals phase, Saugata Gupta, MD and CEO, Marico Limited, stated. “We believe the ethos of the brand complements the purpose that drives Marico. This adds another digital-first brand in our portfolio, which not only has a distinct proposition but also exhibits strong fundamentals along with a growing digital and offline presence,” he added.
True Elements claims to have 0% preservatives, 0% chemical compounds and 0% added sugar in its choices. Offering a variety of over 70 merchandise spanning throughout classes of western breakfast (Oats, Muesli, Granola, Flakes), Indian breakfast (Poha, Upma, Dosa), Snacks (roasted seeds, seed mixes, uncooked seeds) amongst others. Currently accessible in over 90 on-line platforms and in over 12,000 stores, True Elements plans to ramp up its offline presence over the subsequent few years. “As a brand, True Elements has always focused on staying True across all its touchpoints- including Purpose, People, Product and Planet, and we are glad to have found a partner who echoes this way of thinking. True Elements built its first phase of growth behind a portfolio of innovative clean food and building high consumer trust- while we continue to push the bar on those, our next phase will be focused on long term brand building and accelerating our entry into newer households,” Puru Gupta, CEO and co-founder, True Elements, stated.
“In addition to value systems, we see strong synergies with Marico in terms of our aspirations for the brand and are confident that this partnership will only make our promise of providing clean, healthy and no-nonsense food much stronger,” Sreejith Moolayil, COO and co-founder, True Elements, acknowledged.
Marico is one among India’s main shopper merchandise corporations, within the world magnificence and wellness house. During FY 2021-22, Marico recorded a turnover of about Rs 95 billion by its merchandise offered in India and chosen markets in Asia and Africa.
Source: www.financialexpress.com”