Fast-moving consumer durables major Marico bought a majority stake of 54% for an undisclosed amount in healthy breakfast and snacks brand True Elements, owned by HW Wellness Solutions.
Vaish Associates Advocates acted as the legal advisers led by associate partners Amitjivan Joshi and Shrinivas Sankaran, and associates Ankita Shah and Disha Rathod.
LegaLogic Consulting advised HW Wellness Solutions. Partners Vikas Agarwal and Vivek Sadhale, principal legal adviser Siddhesh Iyer, senior legal adviser Chinmay Bilgi and legal adviser Chetna Ramteke were the deal team members.
Co-founded by Puru Gupta and Shreejith Moolayil, True Elements currently garners a majority of its business through online marketplaces and plans to ramp up its offline business in the next few years.
The brand currently offers 70 products across different breakfast categories.