We are pleased to announce that our client, Marico Limited (“Marico”) has entered into definitive agreements to acquire the remaining 46.02% of the paid-up share capital of HW Wellness Solutions Private Limited (“HW Wellness”) on a fully diluted basis. HW Wellness owns the brand “True Elements”- a leading health related food products brand with a strong presence in the rapidly growing health segment.
Marico is one of India’s leading consumer products companies, listed in Bombay Stock Exchange and National Stock Exchanges, operating in global beauty and wellness categories. During FY 2024-25, Marico recorded a turnover of INR 75.81 billion (USD 0.86 billion) through its products sold in India and chosen markets in Asia and Africa.
Pursuant to the transaction, Marico will acquire 100% stake in HW Wellness on a fully diluted basis and accordingly HW Wellness will become wholly-owned subsidiary of Marico.
Vaish Associates Advocates acted as the legal advisor to Marico, advising it on all aspects relating to the transaction including drafting, negotiation and finalization of definitive agreements with HW Wellness, its promoters, and other shareholders, who were advised by a law firm.
The transaction was led by Mr. Amitjivan Joshi (Partner) and Mr. Priyam Goyal (Senior Associate).