FMCG major Marico Limited has announced a strategic investment in True Elements, a healthy breakfast and snack brand with an acquisition of 54 per cent of the company through primary infusion and secondary buy-outs.
True Elements, co-founded by Puru Gupta and Sreejith Moolayil, claims to be a brand that uses zero preservatives, no chemicals or added sugar in its offerings. The brand offers a wide range of more than 70 products across categories of western breakfast including oats, muesli, granola, flakes Indian breakfast like poha, upma, dosa snacks roasted seeds, seed mixes, raw seeds and others.
The brand is currently available in over 90 online platforms and more than 12,000 retail outlets, and plans to ramp up its offline presence over the next few years, True Elements said in a statement.
Marico Limited, MD and CEO, Saugata Gupta, said True Elements is a step towards expanding our total addressable market in the healthy foods segment. We believe that the brand's ethos complements the purpose that drives Marico. The exciting range of products brings the rare and virtuous blend of quality, taste and health to life at the right price. The shares of Marico rose by 0.58 per cent on Monday at Rs 531.40 on the BSE.