Marico Buys 60% Stake in Cosmix for ₹225 Cr, Taps Wellness Boom

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AuthorAarav Shah|Published at:
Marico Buys 60% Stake in Cosmix for ₹225 Cr, Taps Wellness Boom
Overview

FMCG giant Marico is acquiring a 60% stake in plant-based protein supplement brand Cosmix for Rs 225.67 crore. This strategic move aims to bolster Marico's presence in the rapidly expanding wellness and nutrition segment, leveraging Cosmix's digital-first approach and profitability. The deal values the seven-year-old startup at approximately Rs 375 crore, projecting significant revenue growth.

Marico's investment signals a clear push into the burgeoning wellness market. The FMCG major will initially acquire a 60% stake in Bengaluru-based Cosmix for ₹225.67 crore, with an option to increase its holding over the next three years. This valuation places the seven-year-old direct-to-consumer (D2C) brand at an enterprise value of roughly ₹375 crore.

Strategic Rationale

The acquisition aligns with Marico's broader strategy to expand its presence in high-growth, niche consumer categories. Saugata Gupta, MD and CEO of Marico, highlighted that Cosmix adds a "differentiated brand" to its digital-first portfolio, strengthening its position in the fast-growing wellness and plant-based nutrition space. The company sees "immense potential" here and plans to leverage Cosmix's existing success while exploring adjacent wellness categories.

Cosmix Growth Trajectory

Cosmix has demonstrated impressive financial performance, remaining profitable since its inception. The company reported revenues of ₹25 crore in FY24, a figure that doubled to ₹50 crore in FY25. Projections indicate continued strong growth, with expectations to double its top line again to approximately ₹100 crore by the end of FY26. This rapid expansion has been driven by its primary sales channels: its own website and major online marketplaces.

Marico's Digital Ambitions

This move is part of Marico's larger ambition to build a robust portfolio of digital-first brands. The company already owns D2C brands like Beardo, Plix, True Elements, and Just Herbs, which collectively generated about ₹900 crore in revenue as of Q1 FY26. Marico aims to scale this digital segment significantly, targeting revenues between ₹2,000-2,500 crore within the next three years, a goal achievable through a combination of organic growth and further strategic acquisitions. Founders Soorya Jagadish and Vibha Harish, who initially bootstrapped Cosmix with ₹20 lakh, found Marico's vision aligned with their long-term objectives. The Rainmaker Group advised Cosmix on the transaction.

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