Marico Ltd has signed definitive agreements to acquire 93.27% stake in Zea Maize Pvt Ltd, from PVR INOX (existing holding company), for ₹226.83 crore to expand its total addressable market in value-added foods categories.
The transaction is likely to be completed within 30 days and the latter will become the subsidiary of Marico. Further, Marico has the right to acquire the remaining stake in Zea Maize after completion of three years from execution date at a consideration to be determined at such time, subject to achievement of certain milestones, requisite approvals and terms and conditions under the definitive agreements.
Zea Maize owns ‘4700BC’, one of India’s leading premium gourmet snacking brands, renowned for its popcorn and range of innovative 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, etc.).
Known for its bold flavors and contemporary brand language, 4700BC caters to the urban, premium consumer seeking indulgent yet modern snacking options. Over the years, the brand has evolved from a niche challenger into a recognized name within India’s organized snacking landscape.
Going forward, 4700BC will focus on driving accelerated growth through new product launches across emerging snacking segments, strengthening its multi-channel distribution network, and building a differentiated premium brand anchored in innovation.
Saugata Gupta, MD and CEO, Marico 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 consumer-first ethos and harnessing its top-notch innovation capabilities.”
Chirag Gupta, Founder, 4700BC said, “We are delighted to partner with Marico. 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. With the strong backing and exciting new launches ahead, the focus for us remains on building one of India’s most loved premium snacking brands.”
Ajay Bijli, MD, PVR INOX said, “We recognized the potential in 4700BC at a very early stage and supported the brand through its formative years. From a niche gourmet popcorn offering, it has grown into a nationally recognized premium snacking brand. As it looks to scale further and broaden its ambition, the brand is well positioned under the stewardship of a scaled FMCG leader like Marico. For PVR INOX, this transaction represents a natural culmination of our strategic role and enables us to monetize a non-core asset.”