Consumer goods major Marico Limited has announced the acquisition of the remaining 46.02% stake in HW Wellness Solutions Private Limited, the parent company of health foods brand True Elements, for an aggregate consideration of ₹138 crore. This strategic move gives Marico complete ownership of the Pune based wellness company, building upon its initial majority investment made in May 2022.
The transaction represents a significant milestone in Marico’s diversification strategy beyond its traditional personal care portfolio. When Marico first entered into partnership with HW Wellness Solutions by acquiring 53.98% stake three years ago, it signaled the company’s intent to expand into the rapidly growing health and wellness segment. The complete buyout demonstrates confidence in True Elements’ market positioning and growth trajectory.
Impressive Financial Performance
HW Wellness Solutions, incorporated in 2013 and co founded by Puru Gupta and Sreejith Moolayil, has established True Elements as a digital first brand in the healthy breakfast and snacking category. The company’s financial performance validates Marico’s investment thesis, with revenue experiencing remarkable growth from ₹57.40 crore in FY23 to ₹164.38 crore in FY25. This substantial increase reflects the brand’s successful penetration in the health conscious consumer segment.
According to regulatory filings, the transaction is expected to close by September 30, 2025, subject to standard terms and conditions. The deal structure involves acquiring shares from the founders and other existing shareholders, providing them with a complete exit while ensuring business continuity under Marico’s leadership.
Market Positioning and Future Prospects
The acquisition aligns with broader market trends as Indian consumers increasingly prioritize wellness and nutrition in their purchasing decisions. True Elements’ focus on healthy breakfast options and snacks positions the brand advantageously in this expanding market. For Marico, this represents an opportunity to leverage its distribution network and marketing expertise to accelerate True Elements’ growth trajectory.
This acquisition reinforces Marico’s commitment to building a diversified portfolio that captures emerging consumption patterns. As health foods continue gaining traction among Indian consumers, Marico’s complete ownership of True Elements positions the company to capitalize on this sector’s growth potential while expanding beyond its core personal care business.
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