PVR INOX sells its stake in 4700BC to Marico for Rs 226.8 crore

New Delhi: PVR INOX has entered into definitive agreements to divest its entire stake in Zea Maize (ZMPL), the company behind the 4700BC premium snacking brand, to Marico. The all-cash transaction is valued at INR 226.8 crore.

PVR INOX had been involved with ZMPL since its early stages, supporting its growth into one of India’s fastest-growing premium snacking brands. 4700BC has expanded beyond cinemas, establishing a multi-channel presence across modern retail, digital commerce, and institutional segments.

The divestment is part of PVR INOX’s strategic review to unlock shareholder value, strengthen the balance sheet, and refocus resources on its core cinema exhibition operations. The company noted that the sale is not expected to have a material impact on its in-cinema food and beverage revenues or its growth trajectory. The transaction is expected to be accretive to PVR INOX’s profit, free cash flow, and return ratios.

Commenting on the deal, Ajay Bijli, Managing Director of PVR INOX, said, “We recognised the potential in 4700BC at a very early stage and supported the brand through its formative years. From a niche gourmet popcorn offering, it has grown into a nationally recognised premium snacking brand. As it looks to scale further and broaden its ambition, the brand is well positioned under the stewardship of a scaled FMCG leader like Marico. For PVR INOX, this transaction represents a natural culmination of our strategic role and enables us to monetise a non-core asset.”

Saugata Gupta, MD and CEO of Marico, added, “The investment in 4700BC aligns well with Marico’s ambition to participate in fast-growing food categories through distinctive, future-ready brands. We see immense potential in 4700BC as a premium snacking brand with deep consumer connect and proven execution. Together, we will tap the opportunity to leverage our existing scale in foods to broaden the brand’s presence across channels, while staying true to its consumer-first ethos and harnessing its top-notch innovation capabilities.”

Axis Capital served as exclusive financial advisor and Shardul Amarchand Mangaldas & Co acted as legal advisor to PVR INOX for the transaction.