Overview

FMCG major Marico has announced its decision to acquire a 93.27% equity stake in Zea Maize, the company behind premium snacking brand 4700BC, from PVR INOX. The transaction is valued at up to ₹226.83 crore, following which Zea Maize will become a subsidiary of Marico.

This acquisition marks Marico’s formal entry into the fast-growing packaged gourmet snacking segment, expanding its food portfolio beyond staples and condiments.

Strategic Fit

The deal aligns with Marico’s long-term strategy of building a strong foods-led growth engine alongside its core personal care business.

Premium snacking, especially ready-to-eat and indulgence categories, is witnessing structural growth driven by urbanisation, rising disposable incomes, and changing consumption habits.

4700BC complements Marico’s ambition to scale aspiration-led food brands with higher margins and strong brand recall.

Marico brings deep strengths in brand-building, distribution reach, and supply-chain efficiency, which can accelerate 4700BC’s next phase of growth.

About Zea Maize & 4700BC

Zea Maize is the owner of 4700BC, one of India’s earliest and most recognisable gourmet popcorn brands.

The brand has a strong presence across modern trade, e-commerce, quick-commerce platforms, and cinema chains.

Its product portfolio includes ready-to-eat popcorn, microwave popcorn, and flavour-led innovations catering to premium urban consumers.

Over the years, 4700BC has built a differentiated positioning in a category traditionally dominated by unorganised players.

Deal Structure

Marico will acquire 93.27% equity ownership in Zea Maize, making it a subsidiary.

The acquisition value is capped at ₹226.83 crore, subject to final adjustments and closing conditions.

Post-acquisition, the remaining minority stake may be acquired over time, depending on agreed terms and performance metrics.

The transaction is subject to customary regulatory and contractual approvals.

Why PVR INOX Is Exiting

For PVR INOX, the sale represents a strategic monetisation of a non-core asset.

The multiplex operator is sharpening focus on its core cinema exhibition business, especially at a time when the industry is recalibrating post-pandemic.

The exit also allows PVR INOX to unlock value from an investment that has matured as a consumer brand.

Competitive Landscape & Market Context

India’s organised packaged snacking market is expanding rapidly, driven by premiumisation and brand-led consumption.

With this acquisition, Marico strengthens its position against established FMCG peers that are also pushing aggressively into foods and snacking.

The deal highlights a broader trend where large FMCG players are acquiring niche, high-growth brands rather than building them from scratch.

Market Reaction & Broader Implications

Such acquisitions are generally viewed as long-term portfolio strengthening moves, though near-term integration and scaling remain key execution factors.

Investors often track how efficiently Marico can leverage its distribution muscle without diluting brand authenticity, which is critical in premium categories.

The transaction reinforces Marico’s evolving identity as a diversified consumer products company, rather than a pure-play personal care firm.

Final Word

Marico’s acquisition of a controlling stake in Zea Maize (4700BC) for up to ₹226.83 crore is a strategically significant move into the premium snacking space. The deal adds a strong, well-recognised brand to Marico’s food portfolio and reflects the company’s focus on future-ready, consumption-driven categories. Execution, brand nurturing, and scale-up will be the key variables to watch as 4700BC transitions into its next growth phase under Marico’s ownership.