Marico’s INR 226 Cr Cosmix Bet Marico is betting big on health-first, D2C brands. In its second acquisition in a week, after popcorn brand 4700BC, the FMCG giant will now pick up a controlling stake in plant-based protein startup Cosmix Wellness at a hefty valuation. So, what does the deal look like? The Finer Print: The FMCG major will acquire a 60% stake in the wellness-focussed D2C brand from its two founders at an INR 375 Cr valuation, pegging the deal at INR 226 Cr. However, cofounders Vibha Harish and Soorya Jagadish will stay on and retain operational control. The Acquisition Thesis: The deal makes sense for both parties. For Marico, the D2C brand offers a scaled and profitable brand, with product-market-fit, digital reach, supply-chain depth, and distribution. It also saves the FMCG major the trouble of building a brand in the space from scratch. On the other hand, Cosmix will likely tap into Marico’s existing muscle to expand offline and scale sustainably, without the need to chase venture capital. Retracing Cosmix’s Journey: The story starts in 2019, when Harish turned her Bengaluru apartment into a makeshift factory to start a clean-label D2C protein brand. However, instead of splurging heavily… Read MoreInc42 Media
