Marico Acquires 4700BC for ₹227 Crore, Enters Premium Snacking Market

Introduction

FMCG major Marico Limited has announced its entry into the premium snacking segment by acquiring a majority stake in Zea Maize Private Limited, the parent company of the gourmet brand 4700BC. The deal, valued at up to ₹226.83 crore, involves Marico purchasing a 93.27% stake from the cinema chain PVR INOX Limited. This strategic move is set to expand Marico's footprint in the value-added foods category and leverage its extensive distribution network to scale the high-growth snacking brand.

Details of the Transaction

Under the terms of the definitive agreements signed, Marico will acquire 93.27% of Zea Maize's paid-up share capital. The transaction, which is an all-cash deal, is expected to be completed within 30 days, subject to customary closing conditions. Upon completion, Zea Maize will operate as a subsidiary of Marico. The agreement also grants Marico the right to acquire the remaining stake in the company after a period of three years, with the consideration to be determined based on the achievement of specific milestones and requisite approvals. The founder of 4700BC, Chirag Gupta, will retain his stake and continue to lead the business operations.

Strategic Rationale for Marico

This acquisition aligns with Marico's stated ambition to strengthen its presence in fast-growing food categories with distinctive, future-ready brands. Saugata Gupta, MD and CEO of Marico Limited, stated that the company sees immense potential in 4700BC due to its strong consumer connection and proven execution capabilities. Marico plans to utilize its established scale in the foods business to broaden 4700BC's presence across multiple channels, including modern retail and e-commerce, while preserving the brand's premium positioning and innovation-led approach. The move allows Marico to tap into India's rapidly expanding snacking market, which is projected to grow significantly in the coming years.

PVR Inox's Strategic Divestment

For PVR INOX, the sale marks the successful monetization of a non-core asset. The cinema operator had incubated the 4700BC brand, helping it grow from a niche gourmet popcorn offering available in multiplexes to a nationally recognized snacking brand. Ajay Bijli, MD of PVR INOX Limited, noted that the brand is now well-positioned for its next phase of growth under the stewardship of a scaled FMCG leader like Marico. The divestment strengthens PVR INOX's balance sheet, allowing it to reduce debt and sharpen its focus on the core cinema exhibition business. The company generated an internal rate of return of approximately 24.5% on its total equity investment of ₹94.6 crore.

The Rise of 4700BC

Founded in 2013 by Chirag Gupta, 4700BC pioneered the gourmet popcorn category in India. The brand has since expanded its product portfolio to include a variety of innovative snacks such as makhana, crunchy corn, and nachos. Catering to urban consumers seeking premium and indulgent snacking options, 4700BC has built a strong presence across offline retail, online platforms, and institutional channels like airlines and cinemas. The brand's revenue has shown impressive growth, reflecting its increasing popularity.

Financial Performance of 4700BC

The brand has demonstrated robust financial growth over the past three fiscal years, underscoring its strong market acceptance and operational efficiency.

Market Impact and Future Outlook

Marico's acquisition comes at a time when India's snacking market, estimated at ₹45,000 crore in FY23, is projected to reach ₹85,000 crore by FY30. The premium segment, in particular, is growing at an annual rate of around 20%. By integrating 4700BC, Marico is well-positioned to capture a significant share of this growth. The key factor to watch will be how effectively Marico can scale the brand's distribution without diluting its premium appeal. On the stock market, shares of Marico closed at ₹740.90 on Friday, January 23, 2026, down 1.41% from the previous session and approximately 5% below its 52-week high of ₹780.

Conclusion

The acquisition of 4700BC by Marico is a strategic move that benefits all parties involved. It provides Marico with a strong entry into the lucrative premium snacking space, offers 4700BC a platform for accelerated growth, and allows PVR INOX to unlock value from a non-core asset. As Marico integrates Zea Maize into its operations, the focus will be on leveraging synergies to build 4700BC into one of India's most loved premium snacking brands.