New Delhi: Marico Ltd on Monday said it has entered into definitive agreements to acquire a 93.27% stake in Zea Maize Private Limited, the company that owns premium gourmet snacking brand 4700BC, from PVR INOX Ltd for an aggregate consideration of up to ₹226.83 crore.
The acquisition, to be executed through a cash transaction, will make Zea Maize a subsidiary of Marico upon completion. The transaction is expected to be completed within 30 days, subject to customary closing conditions, the company said in a regulatory filing.
Founded in 2013, Zea Maize owns 4700BC, a brand best known for pioneering gourmet popcorn in India and subsequently expanding into adjacent snacking categories such as popped chips, makhana, crunchy corn and nachos. The brand has built a strong presence across offline retail, e-commerce and institutional channels, including airlines and cinema chains.
Zea Maize reported a turnover of ₹98.66 crore in FY25, up from ₹75.29 crore in FY24 and ₹48.47 crore in FY23. The company’s annualised revenue run rate for the October–December 2025 quarter stood at around ₹140 crore, reflecting strong growth momentum.
Marico said the transaction aligns with its strategy to expand its total addressable market in value-added foods by adding differentiated, premium brands. The company will also have the right to acquire the remaining stake in Zea Maize after three years, subject to achievement of agreed milestones.
PVR INOX, which had incubated and scaled the brand over the past decade, said the divestment allows it to monetise a non-core asset, while positioning 4700BC for its next phase of growth under a large FMCG player.