Marico Limited has officially signed a definitive agreement to acquire a majority stake in 4700BC, India’s pioneer gourmet popcorn brand, from multiplex giant PVR INOX.
The deal, announced on January 26, 2026, involves an all-cash consideration of ₹226.8 crore, marking a major consolidation in the premium snacking sector.
1. Transaction Details & Ownership Shift
The acquisition is structured as a strategic exit for PVR INOX, which had incubated the brand for nearly a decade.
- Stake Acquired: Marico is purchasing a 93.27% stake in Zea Maize Private Limited, the parent entity of 4700BC.
- Founder Role: The brand’s founder, Chirag Gupta, will retain his remaining stake and continue to lead the business under Marico’s stewardship.
- Future Option: Marico has secured the right to acquire the remaining equity after three years, contingent on the brand hitting specific milestones.
- Timeline: The transaction is expected to be completed within 30 days (by late February 2026).
2. Financial Growth: From Niche to ₹100 Crore
4700BC has shown explosive growth, evolving from a theater-only snack to a multi-channel FMCG brand.
| Fiscal Year | Turnover (₹ Crores) | Growth Status |
| FY 2022-23 | ₹48.47 Cr | Rapid Post-Pandemic Recovery |
| FY 2023-24 | ₹75.29 Cr | 55% YoY Growth |
| FY 2024-25 | ₹98.66 Cr | Nearing the ₹100Cr Milestone |
| Current ARR | ₹140 Cr (Est.) | 2026 Run Rate |
3. Strategic Rationale: The “FMCG Pivot”
For Marico:
- Premiumization: The deal aligns with Marico’s goal of making its “Food and Premium Personal Care” segments contribute 25% of domestic revenue by 2027.
- Category Expansion: 4700BC adds a high-growth “indulgence” category to Marico’s healthy-food portfolio, which already includes Saffola, True Elements, and Plix.
- Distribution Muscle: Marico will leverage its massive pan-India distribution network to take 4700BC beyond urban hubs and into Tier-2 cities.
For PVR INOX:
- Monetizing Non-Core Assets: Managing Director Ajay Bijli described the sale as a “natural culmination” of their role as incubators.
- High ROI: PVR INOX originally invested just ₹5 crore for a 70% stake in 2015. The exit at ₹226.8 crore represents a massive return on investment.
- Focus on Cinema: The proceeds will be used to strengthen the balance sheet and focus on the core cinema exhibition business following the 2023 merger.
4. Product Portfolio Beyond Popcorn
While famous for its gourmet popcorn (like Himalayan Salt and Caramel), 4700BC has aggressively diversified its catalog:
- Popped Chips & Nachos: Targeting the potato chip market with healthier alternatives.
- Makhana (Fox Nuts): Tapping into the traditional Indian superfood trend.
- Crunchy Corn: A savory, high-protein snack for the “on-the-go” consumer.
- Institutional Reach: The brand holds strong contracts with major airlines (IndiGo, Air India) and luxury hotel chains.
Conclusion: A New Chapter for Snacking
With India’s premium snacking market projected to grow at a 20% CAGR through 2030, Marico’s acquisition of 4700BC is a calculated bet on the “aspirational” Indian consumer. By moving the brand from the cinema lobby to the supermarket aisle, Marico is set to challenge global giants like PepsiCo (Lay’s/Doritos) in the premium value-added food space.
