New Delhi: PVR Inox Limited announced on Monday that it has sold its entire stake in Jia Maj Private Limited (JMPL) to FMCG giant Marico Limited for Rs 226.8 crore in an all-cash transaction.
JMPL operates the FMCG brand 4700BC, which specialises in snacks and related products. PVR Inox, known primarily for running multiplex chains across India, holds a 93.27 percent stake in JMPL. Both companies have signed the agreement, and once the sale is finalised, JMPL will no longer be a subsidiary of PVR Inox.
Marico’s Managing Director and CEO, Saugat Gupta, stated that investing in 4700BC aligns with Marico’s goal to expand rapidly in the growing food market and focus on future-ready brands. He added that as a premium snacks brand, 4700BC offers immense growth potential and this acquisition will help Marico accelerate its presence in the food category.
Chirag Gupta, founder of 4700BC, described the deal as a decisive milestone in the brand’s journey. While PVR Inox contributed significantly to increasing the brand’s reach and credibility, Marico’s FMCG expertise will be crucial for the next phase of 4700BC’s growth. He emphasised that with new products in the pipeline, the focus is on establishing 4700BC as one of India’s most preferred premium snacking brands.
Speaking about the agreement, PVR Inox MD Ajay Bijli highlighted that 4700BC started as a niche premium popcorn brand and has grown into a nationally recognised premium snacking brand. To further expand and realise its ambitions, the brand is now well-positioned under the leadership of a leading FMCG company like Marico.
Marico is one of India’s major FMCG companies, known for strong brands like Parachute. The company operates not only in India but also across Asia and Africa.
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