M&A-hungry Marico buys majority of protein-products firm Cosmix

Core Insights - Marico has acquired a 60% stake in Cosmix Wellness for Rs2.25 billion ($25 million), enhancing its presence in the premium food and nutrition sector [1][2] - The acquisition aligns with Marico's strategy to expand its digital-first portfolio and capitalize on the growing wellness and plant-based nutrition market [2][3] Financial Performance - In the financial year 2024-25, Marico reported revenue from operations of Rs108.31 billion, marking a 12% year-on-year increase [3] - The food division, primarily driven by the Saffola brand, experienced a significant revenue increase of 44%, exceeding Rs9 billion [3] - Cosmix Wellness has been profitable since its inception, achieving around Rs100 billion in annual recurring revenue with a high teen EBITDA margin [4] Strategic Expansion - Marico has the option to acquire the remaining stake in Cosmix Wellness after the 2029 financial year, indicating a long-term commitment to the partnership [3] - The company is also diversifying its portfolio by investing Rs2.61 billion in Skinetiq, a skincare brand in Vietnam, showcasing its ambition beyond food products [5]