Marico acquires Zea Maize snacking firm
The deal marks a strategic move by Marico to accelerate its entry into higher‑growth, branded food and snacking categories beyond its traditional strengths in edible oils and personal care.
INDIA – Marico Limited, a leading fast-moving consumer goods (FMCG) company renowned for brands like Parachute and Saffola, has announced that it has signed definitive agreements to acquire 93.27% stake in Zea Maize Private Limited, the parent of premium snacks brand 4700BC, from PVR INOX.
This deal propels Marico deeper into India’s booming snacks market, diversifying its portfolio amid surging demand for gourmet, health-focused indulgences.
Zea Maize, founded in 2013 by Chirag Gupta, specializes in upscale snacks, including gourmet popcorn, makhana (fox nuts), crunchy corn, nachos, and popped chips under the 4700BC banner.
The brand operates across more than ten markets, posting revenues of Rs 752.9 million (US$8.19M) in FY 2023/24, though it reported a net loss of Rs 16 crore (US$1.74M) in FY 2025 due to expansion investments.
Gupta retains a minority stake and will continue leading operations, ensuring seamless innovation continuity.
The transaction, payable in cash, is slated to close within 30 days, pending approvals, with Marico holding an option to buy the remaining stake after 3 years, subject to performance milestones.
Marico’s Managing Director and CEO, Saugata Gupta, described the move as a strategic fit for high-growth food categories.
“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,” Saugata Gupta noted.
“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.”
This builds on Marico’s food momentum, where Saffola drove a 44% revenue to jump over Rs 9 billion (US$97.86 M) in FY 2024/25, lifting total operational income to Rs 108.31 billion (US$1.18B), a 12% year-on-year gain.
The acquisition aligns with Marico’s digital-native brand strategy, reducing its reliance on traditional oils and hair care products.
For PVR INOX, the cinema giant, divesting Zea Maize, initially a popcorn venture, monetizes a non-core asset, yielding a 24.5% internal rate of return on its Rs 94.6 crore (US$10.30M) investment.
Gupta echoed, “Marico’s FMCG expertise will be instrumental as 4700BC enters its next chapter. With the strong backing and exciting new launches ahead, the focus for us remains on building one of India’s most loved premium snacking brands.”
India’s snacks sector, projected to reach US$10B by 2027, is driven by urbanization and premiumization, pitting Marico against PepsiCo and ITC.
This entry leverages Marico’s distribution muscle for nationwide and export growth, signaling bolder food bets in agribusiness.
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