Marico makes strategic investment in clean, plant-based nutrition brand ‘Plix’

Marico has announced that it has signed definitive agreements to acquire a majority stake in Satiya Nutraceuticals. Co-founded by Rishubh Satiya and Akash Zaveri, Satiya Nutraceuticals owns "The Plant Fix- Plix", a digital-first, clean-label, plant-based nutrition brand with a strong presence in the rapidly growing health and wellness segments in India.

Founded in 2018,' Plix' is committed to "Making Nutrition Fun". The brand aims to change how the world consumes plant-based superfoods by making it an enjoyable experience with its non-GMO, Vegan, Gluten-free, and Cruelty-free offerings, which use reusable & recyclable packaging. With an extensive product range spanning Weight Management, Hair & Beauty, Sleep and Lifestyle Nutrition categories, Plix has established itself as one of the leading players in the online plant-based nutrition segment. While Plix thrives on D2C and third-party eCommerce marketplaces, it plans to ramp up its offline presence over the next few years.

Saugata Gupta, managing director and chief executive officer, Marico, said, "In line with our strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments but also brings another digital[1]first brand with a distinct value proposition into our fold. The brand's philosophy strongly resonates with our purpose: to empower consumers to manage their health proactively. We are confident that the innovative range of plant-based products and robust fundamentals will propel the brand toward expanding its footprint in chosen product categories and marketplaces. It is heartening that Marico continues to be seen as the strategic investor of choice for founders who want to build sustainable businesses."

Rishubh Satiya and Akash Zaveri, co-founders of Plix, said, "We are delighted to partner with Marico. As a brand, Plix has focused on making nutrition less intimidating and a more enjoyable lifestyle for everyone. Plix has become one of the largest plant-based nutrition brands online with an innovative blend of health, quality, taste and convenience. In partnership with Marico, we will prioritize strengthening the brand's equity and expediting growth by expanding into new categories and channels. In addition to leveraging Marico's core competencies, we foresee compelling synergies that align with our brand's aspirations, signifying a fruitful strategic partnership in the years ahead."