**MARKET BRIEF: Marico’s Strategic Bet on Plant-Based Wellness** **The Deal** FMCG giant Marico Limited has signed definitive agreements to acquire a **60%** majority stake in Cosmix Wellness, a direct-to-consumer plant-based nutrition brand. The transaction values the Bengaluru-based startup at approximately **Rs 375 crore**, with the initial investment reportedly around **Rs 226 crore**. Marico retains the right to acquire the remaining stake after FY29, contingent on performance milestones. **Target Profile** Founded in 2019, Cosmix has quickly scaled to an Annual Recurring Revenue (ARR) of nearly **Rs 100 crore** as of early 2026. The brand is profitable and specializes in functional superfood blends and plant protein, catering to the rapidly expanding "clean label" consumer base. This addition complements Marico’s existing digital-first portfolio, which includes Plix, True Elements, and Beardo. **Strategic Impact** This acquisition aligns with Marico’s "Thrasio-style" aggregation strategy, aiming to derive **25%** of its domestic revenue from premium foods and personal care by 2028. By integrating Cosmix, Marico strengthens its foothold in the Indian plant-based nutrition market, a sector projected to grow at a CAGR exceeding **30%** over the next five years. **Market Reaction** Following the announcement, Marico’s stock traded near **Rs 733.40**, reflecting a neutral-to-positive sentiment. Analysts view the move as a long-term value driver, reducing reliance on the core hair oil business while tapping into high-margin wellness trends. The stock currently trades at a P/E ratio of approximately **49x**, signaling sustained investor confidence in its diversification roadmap.