FMCG major Marico today announced the acquisition of Bengaluru-based plant-based protein startup Cosmix Wellness, marking its second takeover deal in just two weeks. The back-to-back deals signal Marico’s intent to tap new-age, health-focussed consumer brands to unlock incremental growth. “Marico will acquire 60% of Cosmix Wellness’ paid-up share capital from its founders,” the listed FMCG giant said in an exchange filing this evening. Cosmix Wellness Private Limited is the parent entity of Cosmix Wellness. As part of the transaction, cofounders Vibha Harish and Soorya Jagadish will continue with the company and retain operational control. For a five-year-old, bootstrapped startup with a 45-member team, being acquired at an equity valuation of INR 375 Cr raises questions about a niche, founder-led brand scaled sustainably without institutional capital. Against the backdrop of the deal, Inc42 caught up with Harish to understand the startup’s journey that led to its acquisition by one of the country’s major FMCG brands. A Personal Problem Builds A Product Vision For Harish, entrepreneurship was always a long-term aspiration, even if the exact idea was unclear in her early years. The engineering graduate started her career at Rolls-Royce, but she felt increasingly disengaged. Coming from a business-oriented family, Harish knew… Read MoreInc42 Media
