Through this, Marico is looking to deepen its presence in the health and wellness category
As the fast-moving consumer goods (FMCG) major eyes tapping into rising demand for protein-rich nutrition among Indian consumers, Marico is in talks to acquire Cosmix, as per reports. The startup sells plant-based protein supplements.
Through this, Marico is looking to deepen its presence in the health and wellness category. The reports noted that the company is expected to pay around Rs 300 crore to acquire Cosmix. As of the financial year (FY24), Cosmix reported revenues of Rs 24.4 crore and profits of Rs 2.8 crore. While FY25 results are yet to be filed, the company has more than doubled its business over the past three years and is likely to have maintained a similar growth trajectory in the previous fiscal, the reports added.
Talks of a potential deal come amid a broader shift in consumer preferences, with a growing number of Indians increasing protein intake as part of daily diets. In response, milk brands such as Amul, Milky Mist and Akshayakalpa have rolled out higher-protein variants, while players like iD Fresh Food and Nandini are fortifying products such as dosa batter and other staples to cater to rising demand, reports pointed out.
In a separate development, Reliance’s consumer products arm is in advanced talks to acquire a majority stake in Udhaiyams Agro Foods. Reports noted that the deal is expected to be mid-sized.
The company makes staples, snacks and ready-to-cook breakfast mixes and competes against Tata Consumer Products, iD Fresh Food and MTR. The reports added that the company’s promoters S Sudhakar and S Dinakar will continue to hold a minority stake. While the size of the deal is not yet public, the reports added that large legacy players in the consumer sector are facing tough competition from the local and digital-first brands that compete on pricing, quick commerce and direct distribution.
