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Marico in talks to buy plant-based protein brand Cosmix for Rs 300 crore: Report
The potential deal would help Marico tap into the fast-growing demand for protein-rich nutrition among Indian consumers
In recent years, Marico has been actively expanding its direct-to-consumer (D2C) footprint, acquiring brands such as Plix, True Elements, Just Herbs and Beardo.
Marico is in advanced talks to acquire plant-based protein brand Cosmix for around Rs 300 crore, as the FMCG major steps up its push into health and wellness, according to a Moneycontrol report citing people familiar with the matter.
The potential deal would help Marico tap into the fast-growing demand for protein-rich nutrition among Indian consumers, while strengthening its portfolio beyond traditional food and personal care categories.
In recent years, Marico has been actively expanding its direct-to-consumer (D2C) footprint, acquiring brands such as Plix, True Elements, Just Herbs and Beardo. Speaking to analysts earlier, Managing Director and Chief Executive Officer Saugata Gupta signalled that food remains a priority area for future acquisitions.
“Foods is of interest to us, so therefore we will continue to be looking into these acquisitions. Our track record for acquisition has been good. We now have a good playbook, and we also believe that we see ourselves as a strategic investor of choice,” Gupta said.
The Indian protein and nutrition market is currently dominated by Nestlé India and Hindustan Unilever Ltd (HUL). Nestlé’s health science and nutrition portfolio, led by its Nestlé Health Science and Nestlé Resource brands, is a key growth driver for the company’s India business.
HUL, meanwhile, has seen strong traction from its nutrition bets. The company’s acquisition of a majority stake in Oziva and Wellbeing Nutrition has begun to pay off, with Oziva delivering triple-digit growth in the second quarter of fiscal 2026. “The acquisition of Oziva a couple of years back is helping us grow and contribute very meaningfully,” HUL CEO Priya Nair told analysts.
About Cosmix
Founded in 2019 by Soorya Jagadish and Vibha Harish, Bengaluru-based Cosmix focuses on clean, plant-based protein and nutrition products. The brand gained wider visibility after appearing on Shark Tank India in 2024, where it raised Rs 1 crore from Emcure Pharmaceuticals executive director Namita Thapar for a 1% stake, valuing the company at Rs 100 crore at the time.
Cosmix reported revenue of Rs 24.4 crore and profit of Rs 2.8 crore in fiscal 2024. The company has grown more than 2.5 times over the past three years, according to the Moneycontrol report.
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