Marico's 2022 acquisition of 54% stake in D2C healthy foods brand True Elements resurfaces

Resurfacing a May 2022 move, Marico had acquired a 54% stake in True Elements, strengthening its presence in India's healthy foods segment through the direct-to-consumer brand.

— Filed Wed, 19 Aug, 2026, 18:49 IST · First seen Wed, 19 Aug, 2026, 18:48 IST · Source Inc42 · Quick Commerce

What happened

Marico acquired a 54% stake in D2C healthy foods brand True Elements, expanding its presence in India’s healthy foods segment.

Key facts

  • 54% stake
  • May 23, 2022

Why this matters

This deal illustrates how acquiring a controlling stake in a credible D2C brand can provide faster entry into adjacent wellness categories than building internally.

What to watch

  • True Elements' revenue growth, repeat purchase rates and movement from D2C toward omnichannel sales.
  • New SKU launches and entry into protein, millet, functional nutrition or kids-health categories.
  • Availability on quick-commerce platforms and expansion in national modern-trade chains.
  • Changes in gross margin, advertising spend and profitability following Marico integration.
  • Competitive responses from Tata Consumer, ITC, Nestle, HUL, Yoga Bar, Slurrp Farm and other healthy-food brands.
  • Any increase in Marico's stake or formal integration of True Elements into its foods portfolio.
  • Expand True Elements distribution into Marico's modern-trade, e-commerce, quick-commerce and selective general-trade channels.
  • Launch adjacent clean-label products in protein, breakfast, millet, gut-health and convenient healthy-snacking segments.
  • Use Marico's procurement and manufacturing scale to reduce input-cost volatility and improve gross margins.
  • Retain founder-led product innovation and D2C community marketing while introducing tighter operating and governance controls.
  • Evaluate further minority investments or acquisitions in nutrition, functional foods and better-for-you beverages.

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