Marico has entered into definitive agreements to make strategic investment in Zea Maize, the company which owns the brand ‘4700BC’ -- one of India’s leading premium gourmet snacking brands.
As part of the aforesaid strategic investment, the Company will acquire 93.27% of Zea Maize’s paid-up share capital from PVR INOX (existing holding company), subject to terms and conditions of the definitive agreements.
The said acquisition of 93.27% of Zea Maize’s paid-up share capital is likely to be completed within 30 days, subject to customary closing conditions and terms of the definitive agreements. In line with company’s key strategic priorities, the transaction will further expand Marico’s total addressable market in value-added foods categories by adding a gourmet snacking brand with a differentiated premium positioning to its portfolio.
Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space.
