Marico acquires 60% stake in Cosmix Wellness for US$25M
Marico strengthens its premium wellness presence with a majority acquisition of fast-growing digital-first brand Cosmix.
INDIA – Marico has signed definitive agreements to acquire a 60% stake in Cosmix Wellness Private, the owner of digital-first functional wellness brand Cosmix, in a transaction valued at Rs2.25 billion (US$25 million).
The acquisition is expected to be completed within the next 30 days, after which Cosmix will operate as a subsidiary of Marico.
The FMCG major said the deal will significantly expand its presence in premium food and nutrition categories, particularly within the fast-growing wellness and plant-based nutrition segments.
Saugata Gupta, Managing Director and Chief Executive Officer of Marico, said the investment aligns with the company’s long-term growth strategy.
“This investment brings another strong and differentiated brand into our digital-first portfolio and underscores the immense potential we see in the wellness and plant-based nutrition space,” Gupta said.
Founded in 2019 by husband-and-wife duo Vibha Harish and Soorya Jagadish, Cosmix Wellness offers plant-based protein powders, pancake mixes and plant-protein bars under the Cosmix brand.
The company was among the earliest yeast protein players in the Indian market and gained nationwide attention following the founders’ appearance on Shark Tank India in 2024.
During the show, Cosmix secured a Rs10 million (US$120,000) investment from Namita Thapar of Emcure Pharmaceuticals at a valuation of Rs1 billion (US$12 million).
Cosmix’s financial performance has accelerated rapidly in recent years. The company reported turnover of Rs54 million (US$600,000) in the 2023 financial year, which increased to Rs243 million (US$2.7 million) in 2024 and doubled again to Rs510 million (US$5.6 million) in 2025.
For the 2026 financial year, the company is reportedly targeting revenue of Rs900 million (around US$10 million).
In the 2025 financial year, Cosmix recorded a profit of Rs170 million (approximately US$1.8 million) and achieved an annual recurring revenue run rate of Rs1 billion (US$11 million). Its products are sold not only in India but also in select markets across Asia and Africa.
“We started Cosmix to champion clean ingredients and honest communication, creating the kind of wellness products we wanted for ourselves and our community,” Harish and Jagadish said in a joint statement. “Partnering with Marico is a defining moment for that mission.”
They added, “We see incredible synergies in R&D, manufacturing and more. Together, we’ll continue building one of India’s most loved, ethical and trusted wellness brands.”
Following the acquisition, Cosmix will focus on accelerating profitable growth, expanding into adjacent wellness and nutraceutical categories, and strengthening its multi-channel distribution. Marico also holds an option to acquire the remaining stake in Cosmix after the 2029 financial year.
In a regulatory filing, Marico noted that Cosmix has been “bootstrapped and profitable” since inception, with a sustainable high-teen EBITDA margin profile.
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