Marico Limited has announced a strategic investment in HW Wellness Solutions Private Limited with an acquisition of ~54% equity stake through primary infusion and secondary buyouts. Co-founded by Puru Gupta and Sreejith Moolayil, HW Wellness Solutions Private Limited owns “True Elements” (http://www.true-elements.com/), a clean label, digital-first brand playing in the rapidly growing healthy breakfast and snacks segment in India.
True Elements is India’s only food brand to be recognized as both ‘Clean Label’ & ‘100% Wholegrain’. It is anchored on providing “Food that DOES NOT LIE to you” and promises 0% preservatives, 0% chemicals & 0% added sugar in its offerings. It offers a wide range of 70+ products spanning across categories of Western breakfast (oats, quinoa, muesli, granola, flakes), Indian breakfast (poha, upma, dosa), Snacks (roasted seeds, seed mixes, raw seeds) amongst others. Available on over 90 online platforms & in over 12,000 retail outlets, True Elements currently garners majority of its business through online marketplaces and plans to significantly ramp up its offline presence over the next few years.