Blitz Bureau
NEW DELHI: Marico Ltd has said it has signed definitive agreements to acquire 93.27 per cent stake in Zea Maize Private Ltd which owns premium gourmet snacking brand 4700BC from PVR Inox Ltd for ₹227 crore.
4700BC is known for its popcorn and range of snack offerings such as popped chips, makhana, crunchy corn and nachos.
Founded in 2013 by Chirag Gupta, 4700BC pioneered gourmet popcorn in India and has since built a strong presence through diverse snacking offerings across offline, online and institutional channels including airlines, cinemas
Founded in 2013 by Chirag Gupta, 4700BC pioneered gourmet popcorn in India and has since built a strong presence through diverse snacking offerings across offline, online and institutional channels including airlines, cinemas.
Saugata Gupta, Managing Director and Chief Executive Officer, Marico Ltd said, “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.” “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 consumerfirst ethos and harnessing its top-notch innovation capabilities,” he said.
Chirag Gupta, Founder, 4700BC said, “This marks a defining moment in the brand’s journey. While PVR Inox has played a pivotal role in building scale and credibility, Marico’s FMCG expertise will be instrumental as 4700BC enters its next chapter.”
Ajay Bijli, MD, PVR Inox said, “For PVR Inox, this transaction represents a natural culmination of our strategic role and enables us to monetize a non-core asset.”