Marico Ltd Amends Definitive Agreement to Extend Time Period for Acquiring Remaining Stake in Satiya Nutraceuticals

Marico Ltd, a leading consumer goods company, has amended the definitive agreement(s) with Satiya Nutraceuticals Private Limited, the entity that owns the brand ‘PLIX’. The amendment extends the time period for Marico to acquire the remaining 40% stake in Satiya Nutraceuticals by 12 months, subject to mutually agreed milestones and conditions. This decision aligns with the company's strategic priorities. The acquisition was initially announced in July 2023, with Marico acquiring an aggregate of 60% stake on a fully diluted basis in Satiya Nutraceuticals. The company had the right to acquire the remaining 40% stake in Satiya Nutraceuticals on a fully diluted basis at the expiry of 3 years from the execution date, i.e., during FY 27. The amended agreement allows for this acquisition to take place in one or more tranches within the extended time period.