Marico acquires 54% stake in breakfast & snacks brand True Elements

The maker of brands like Saffola and Parachute, Marico, has acquired a 54% stake in True Elements through primary infusion and secondary buyouts, the company said. "True Elements is another step towards expanding our total addressable market in the healthy foods segment," said Marico MD and CEO Saugata Gupta. Several FMCG firms are acquiring digital-first food and beverage brands.