4700BC Adds Indulgence to

MARICO

’s Wellness-Led Portfolio

has acquired a 93% stake in premium popcorn brand 4700BC for ₹226.83 crore, marking a strategic shift toward at-home indulgent snacking. The move complements Marico’s health-focused foods portfolio and aims to tap into the growing “gourmet but better-for-you” segment. With this acquisition, Marico targets a 25% CAGR in its foods business, which it plans to scale to 8x its FY20 size. Deal and Financials - Acquisition cost: ₹226.83 crore for 93% stake. - FY25 revenue: ₹98.66 crore, with ₹140 crore annualized run rate in Q3FY26. - Valuation: ~2.4x trailing revenue. - FY25 losses: ₹16 crore, more than doubled YoY. Portfolio Fit and Strategic Rationale - 4700BC fills Marico’s indulgence gap in its wellness-led foods portfolio. - Complements brands like Saffola (oats, honey, soya), True Elements (premium health foods), and Plix (nutraceuticals). - CEO Saugata Gupta emphasized consumer demand for taste without compromising health. Distribution and Channel Expansion - Brand has expanded via quick commerce, e-commerce, and airline partnerships (Etihad, Qatar Airways). - Marico to retain PVR-Inox theatre presence and leverage its own distribution network for scale. - 4700BC’s portfolio includes makhana, nachos in avocado oil, and other premium snacks. Sector Context and Competitive Landscape - India’s savoury snacks market: ₹50,800 crore in FY24. - Rivals like ITC (Bingo!, Meatigo, Right Shift) and Tata Consumer (Soulfull, Ching’s Secret) have scaled aggressively. - HUL has exited ice creams and lacks a savoury snack play. Investor Activity and Market Momentum - Sector attracting strategic interest: - Balaji Wafers sold 7% stake to General Atlantic at ₹35,000 crore valuation. - L Catterton invested in Haldiram’s. - Marico’s Q3FY26 consolidated revenue: ₹3,537 crore, up 27% YoY; PAT: ₹447 crore, up 12% YoY.