Plix is a plant-based nutrition brand that was founded in 2018. The company offers a range of products, including protein powders, bars, and shakes. Plix is currently sold online and through select offline retailers.
The acquisition of Plix is a strategic move for Marico. The company is looking to expand its presence in the health and wellness category. Plix's plant-based products are a good fit for Marico's portfolio, which already includes brands such as Saffola and Nutralite.
The acquisition is also a sign of the growing popularity of plant based nutrition. The global plant-based food market is expected to reach $162 billion by 2030. Marico is well-positioned to capitalize on this growth, thanks to its acquisition of Plix.
The remaining 25.25% of Plix's shares will be acquired by Marico by May 2025. The deal is subject to regulatory approvals.
In a statement, Saugata Gupta, MD and CEO of Marico, said "Plix is a well-known and respected brand in the plant based nutrition space. The company has a strong track record of innovation and growth. We are confident that Plix will be a valuable addition to our portfolio."
The acquisition of Plix is a major coup for Marico. The company is now well-positioned to capitalize on the growing demand for plant-based nutrition.