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News Topical, Digital Desk : Marico Ltd informed after the stock market closed on Thursday that it will buy the remaining 46.02 percent stake in HW Wellness Solutions. The company said that the valuation of this acquisition has been estimated to be around Rs 138 crore. The HW Wellness brand is known as True Elements, which makes healthy breakfast and snacking products. After this deal, HW Wellness will become a wholly owned subsidiary of Marico.
The company said in the information given to the exchange, "An agreement has been entered into to acquire the remaining 46.02 per cent stake in HW Wellness Solutions Private Limited. With this deal, HW Wellness will become a wholly-owned subsidiary of the company." Marico had announced a strategic investment in HW Wellness in May 2022 and bought 53.98 per cent stake at that time.
Marico Limited is a leading FMCG (fast moving consumer goods) company in India. It is headquartered in Mumbai, Maharashtra. The company's business is spread across many countries in Asia and Africa including India.
Stock performance The company's stock closed at Rs 733.10 on Thursday, down 1.45 per cent. The company's 52-week high is Rs 738.90.
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