Marico will purchase up to 22.5% stake in fitness and wellness solutions app, Revofit.

As per Revofit, Marico will purchase shares from the owners, and it will be issued new shares as well. The company did not however, disclose the size of the investment in monetary terms. This acquisition will further strengthen Marico’s presence in the nutrition space and increase customer involvement.

Further, Saugata Gupta, Managing Director and Chief Executive Officer, Marico stated, “This complements Marico’s aspiration to participate in the nutraceuticals and wellness space. This win-win alliance offers a wider choice to consumers looking to incorporate wellness, fitness and nutrition into their daily lifestyle.”

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