From Strategic Bet to Near-Total Control: Marico Tightens Its Hold on Plix

Marico is moving closer to full ownership of D2C nutrition and personal care brand Plix, acquiring another 24.09% stake for ₹1,012.03 crore in an all-cash transaction.

The latest purchase takes Marico’s total holding in Plix parent Satiya Nutraceuticals to 84.09%. The deal forms part of a broader agreement to acquire 38.18% from the company’s founders and other shareholders, with the remaining 14.09% scheduled to be acquired in July 2027. That final tranche could involve a base payment of up to ₹592 crore, along with additional milestone-linked consideration.

Marico’s relationship with Plix has been building for several years. It first acquired a 37.75% stake in July 2023 for ₹369.01 crore and increased its ownership further by May 2025. The latest deal now shifts the relationship much closer to full control rather than a minority strategic investment.

Plix, founded in 2020, sells plant-based nutrition and personal care products spanning supplements, skincare and haircare. Its growth has accelerated sharply, with consolidated revenue nearly doubling to ₹864.31 crore in FY26 from ₹432.84 crore a year earlier. For Marico, that growth provides a faster route into categories such as wellness, nutrition and beauty that sit beyond its traditional portfolio.

The acquisition also fits a much broader expansion strategy. Marico has already picked up stakes in businesses including 4700BC, Cosmix Wellness and Vietnam-based Skinetiq this year. With Plix now largely under its ownership, the company is steadily building a portfolio around newer consumer categories rather than relying only on its established food and personal care businesses.

By July 2027, Plix is expected to become an even more tightly integrated part of that strategy — turning what began as a startup investment into one of Marico’s more significant new-age consumer bets.