Marico buys 54% stake in parent co of True Elements

FMCG major Marico has acquired an equity stake of about 54% in HW Wellness Solutions. Co-founded by Puru Gupta and Sreejith Moolayil, HW Wellness Solutions owns the True Elements healthy breakfast and snacks brand. The healthy breakfast and snacks segment in India is a rapidly growing market. Marico did not disclose the deal value.