Marico acquires 60% stake in D2C nutrition startup Cosmix

Mumbai-based multinational consumer goods company Marico has acquired a 60% majority stake in Cosmix, a startup that sells plant-based protein supplements, at an equity valuation of Rs 375 crore.

With this deal, Marico expands its D2C presence by adding another brand. The acquisition brings a protein-focused brand into Marico’s D2C portfolio.

Founded in 2019, Cosmix operates as a digital-first nutrition brand with a focus on plant-based protein and wellness products. The startup sells primarily through its own website and online marketplaces. 

Cosmix has remained profitable since inception and reported revenue of around Rs 50 crore in FY25, compared to Rs 24 crore in FY24. According to the company, it has scaled to an ARR of Rs 100 crore.

Marico has been actively acquiring and scaling D2C brands over the past few years. In 2017, it acquired men’s grooming brand Beardo. As per TheKredible, Beardo’s revenue crossed Rs 200 crore in FY25, while its profit increased 3.6 times on a year-on-year basis. Apart from Beardo, Marico’s D2C portfolio includes brands such as Plix, True Elements and Just Herbs. 

The development follows a similar move in the FMCG sector, where Hindustan Unilever Limited (HUL) acquired homegrown skincare brand Minimalist last year at a pre-money valuation of Rs 2,955 crore.