Marico Snaps Up India Snacks Firm Zea Maize

Credit: @4700bcgourmetsnacks/Facebook

Marico, 1 of India’s largest consumer-goods groups, has acquired much than 90% of Zea Maize, location to nan 4700BC snacks brand.

Zea Maize, group up successful 2013, sells products including popcorn, makhana and nachos nether nan 4700BC label. Its snacks are disposable successful much than 10 markets.

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Publicly listed Marico is to salary Indian cinema group PVR INOX Rs2.27bn ($24.7m) for its liking successful Zea Maize of conscionable nether 93.3%.

Chirag Gupta, nan laminitis of nan 4700BC brand, will clasp his shares and enactment connected pinch nan business.

According to a stock-exchange filing announcing nan deal, Zea Maize generated gross of Rs752.9m successful its 2023-24 financial year.

Food is simply a mini portion of Marico’s business erstwhile measuring yearly revenues. In nan company’s 2024-25 financial year, it generated gross from operations of Rs108.31bn, up 12% year-on-year.

However, Marico’s nutrient business, which is centred astir its Saffola brand, saw its gross jump 44% to much than Rs9bn and nan institution is looking to build its beingness successful nan sector.

“The finance successful 4700BC aligns good pinch Marico’s ambition to participate successful fast-growing nutrient categories done distinctive, future-ready brands,” Marico MD and CEO Saugata Guptasaid. “We spot immense imaginable successful 4700BC arsenic a premium snacking marque pinch heavy user link and proven execution. Together, we will pat nan opportunity to leverage our existing standard successful foods to broaden nan brand’s beingness crossed channels, while staying existent to its consumer-first ethos and harnessing its top-notch invention capabilities.”

Marico said connected Monday (26 January) nan woody for nan Zea Maize liking is apt to adjacent wrong 30 days.

The institution has an action to bargain nan remainder of nan business successful 3 years’ time.

Chirag Guptasaid: “While PVR INOX has played a pivotal domiciled successful building standard and credibility, Marico’s FMCG expertise will beryllium instrumental arsenic 4700BC enters its adjacent chapter.”

Ajay Bijli, nan MD of PVR INOX, added: “We recognised nan imaginable successful 4700BC astatine a very early shape and supported nan marque done its formative years. From a niche gourmet popcorn offering, it has grown into a nationally recognised premium snacking brand. For PVR INOX, this transaction represents a earthy culmination of our strategical domiciled and enables america to monetise a non-core asset.”