Marico acquires majority stake in functional wellness brand Cosmix

Marico has signed definitive agreements to acquire a 60% stake in Cosmix Wellness Private Limited, the company behind functional wellness brand Cosmix, valuing the business at around ₹375 crore (about US$45 million).

• Marico has acquired a 60% stake in Cosmix at a valuation of about US$45 million.

• Cosmix has reported annualized revenue of around ₹100 crore (about US$12 million) and has been profitable since inception.

• The founders have retained a minority stake and continue to lead the business.

The transaction marks Marico’s latest investment in digital-first food and wellness brands. Cosmix founders Vibha Harish and Soorya Jagadish have retained the remaining stake and continue to run the company.

Founded in 2019, Cosmix operates as a digital-first functional wellness brand focused on plant-based and fermented yeast protein powders, alongside functional superfood blends. The company has also expanded into functional foods, including plant-protein pancake mixes and plant-protein bars.

Marico said Cosmix has been bootstrapped and profitable since inception, scaling to an annualized revenue run rate of approximately ₹100 crore (about US$12 million) over the last six months, with a high-teens EBITDA margin profile.

The brand has built its consumer base primarily through its direct-to-consumer platform, reporting strong repeat purchase rates, customer lifetime value and brand recall metrics. Cosmix also holds the top-selling position in the plant protein category across several leading e-commerce and quick-commerce platforms in India.

Cosmix develops vegan, gut-friendly formulations and emphasizes ingredient transparency and sustainable sourcing. The company describes its approach as addressing wellness through a root-cause lens rather than isolated nutritional claims.

Saugata Gupta, Managing Director and Chief Executive of Marico, said the investment aligned with the group’s expansion into wellness and plant-based nutrition. “The investment in Cosmix brings another strong and differentiated brand into our digital-first portfolio,” Gupta said. “We foresee immense potential in the wellness and plant-based nutrition space, and Cosmix has already demonstrated deep consumer resonance with its best-in-class, innovative offerings.”

“Together, we are committed to accelerating their journey, expanding into relevant adjacent wellness categories, and building a sustainable, profitable brand that inspires trust and delivers meaningful value to consumers across India,” he added.

Harish and Jagadish said the partnership supported Cosmix’s long-term direction while preserving its founding principles. “We started Cosmix to champion clean ingredients and honest communication creating the kind of wellness products we wanted for ourselves and our community,” they said.

“Partnering with Marico is a defining moment for that mission. We see incredible synergies in R&D, manufacturing and more. Seeing such a long, beautiful future for Cosmix makes us incredibly happy. Together, we’ll continue building one of India’s most loved, ethical, and trusted wellness brands.”

Marico reported turnover of ₹10.8 billion (about US$1.3 billion) in the 2024-25 financial year, with its international business contributing around 25% of group revenue across Asia and Africa.

The Cosmix acquisition reflects continued interest among large consumer goods groups in profitable, digitally native nutrition and wellness brands, as incumbents seek exposure to faster-growing categories linked to functional foods and plant-based protein.