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Marico Limited ( (IN:MARICO) ) just unveiled an update.
Marico Limited has signed definitive agreements to acquire 93.27% of Zea Maize Private Limited, owner of the premium gourmet snacking brand 4700BC, from PVR INOX Limited for up to Rs 226.83 crore in an all-cash deal, making Zea Maize a subsidiary upon completion. The transaction, expected to close within 30 days subject to customary conditions, is aimed at expanding Marico’s addressable market in value-added foods by adding a differentiated premium snacking brand to its portfolio, positioning the company more strongly in the fast-growing packaged gourmet snacks segment and giving it an option to acquire the remaining stake in Zea Maize after three years based on future performance.
More about Marico Limited
Marico Limited is a leading Indian consumer goods company operating primarily in the fast-moving consumer goods (FMCG) and packaged foods space, with a portfolio spanning value-added foods and other daily-use consumer products targeted at mass and premium segments across India and select international markets.
Average Trading Volume: 69,894
Technical Sentiment Signal: Buy
Current Market Cap: 961.8B INR
For detailed information about MARICO stock, go to TipRanks’ Stock Analysis page.