Marico acquires majority stake in plant-based nutrition brand 'Plix'

Marico has announced that it has signed definitive agreements to acquire a majority stake in Satiya Nutraceuticals.

Co-founded in 2018 by Rishubh Satiya and Akash Zaveri, Satiya Nutraceuticals owns “The Plant Fix- Plix”, a digital-first, clean-label, plant-based nutrition brand.

Marico said in a statement that Plix has established itself as one of the leading players in the online plant-based nutrition segment. “While Plix is currently thriving on D2C and third-party E-commerce marketplaces, it plans to ramp up its offline presence over the next few years,” the statement read.

Saugata Gupta, MD and CEO, Marico, said, “In line with our strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments but also brings another digital<1>first brand with a distinct value proposition into our fold. The brand's philosophy strongly resonates with our purpose, which is to empower consumers to manage their health proactively. We are confident that the innovative range of plant-based products, combined with robust fundamentals, will propel the brand towards expanding its footprint in chosen product categories and marketplaces. It is heartening to see that Marico continues to be seen as the strategic investor of choice for founders who want to build sustainable businesses.”

Rishubh Satiya and Akash Zaveri, Co-founders of Plix, said, “We are delighted to partner with Marico. As a brand, Plix has focused on making nutrition less intimidating and a more enjoyable lifestyle for everyone. Plix has become one of the largest plant-based nutrition brands online with an innovative blend of health, quality, taste and convenience. In partnership with Marico, we will prioritize strengthening the brand’s equity and expediting growth by expanding into new categories and channels. In addition to leveraging Marico’s core competencies, we foresee compelling synergies that align with our brand’s aspirations, thereby signifying a fruitful strategic partnership in the years ahead.”

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