Mumbai, Apr 17 (PTI) FMCG firm Marico will acquire upto 22.5 per cent equity stake in Revolutionary Fitness for an undisclosed sum through primary and secondary infusions, it said today.
The company that makes Parachute and Saffola brands said the move is towards strengthening its healthy lifestyle offerings, by leveraging Revolutionary Fitness’s integrated fitness and holistic wellness solutions app Revofit, it said in a statement.
Saffola has been expanding its product offerings from healthy edible oils to healthy foods such as oats, high-fibre soups and meal-replacement high protein Nutrishakes.
Going forward, the brand will continue to develop a wider bouquet of healthy foods.
“I am delighted with the partnership with Revofit, a next generation digital wellness platform. This complements Marico’s aspiration to participate in the nutraceuticals and wellness space. This win-win alliance offers a wider choice to consumers looking to incorporate wellness, fitness and nutrition into their daily lifestyle,” Marico managing director and chief executive officer Saugata Gupta said.
Commenting on the deal, Revolutionary Fitness Co-founder and CEO Sunjay Ghai said, “Marico’s deep domain knowledge in marketing, distribution and product development, coupled with our strengths in digital channels and focus on niche FMCG products for millennials, will enable cross pollination of ideas to create a robust high growth business.”
This is published unedited from the PTI feed.