PVR INOX has monetised its entire investment in its subsidiary, Zea Maize Private Limited (ZMPL), to Marico Limited in an all-cash transaction for a total consideration of Rs 226.8 crore.
This monetisation follows a strategic review by PVR INOX aimed at unlocking shareholder value, strengthening the balance sheet, and reallocating resources towards its core cinema exhibition business.
The transaction is expected to be accretive to PVR INOX’s profit, free cash flow, and return ratios.
Commenting on the transaction, Ajay Bijli, Managing Director, PVR INOX Limited said, “We recognised the potential in 4700BC at a very early stage and supported the brand through its formative years. From a niche gourmet popcorn offering, it has grown into a nationally recognised premium snacking brand. As it looks to scale further and broaden its ambition, the brand is well positioned under the stewardship of a scaled FMCG leader like Marico. For PVR INOX, this transaction represents a natural culmination of our strategic role and enables us to monetise a non-core asset.”
Saugata Gupta, MD and CEO, Marico Limited said: “The investment in 4700BC aligns well with Marico’s ambition to participate in fast-growing food categories through distinctive, future-ready brands. We see immense potential in 4700BC as a premium snacking brand with deep consumer connect and proven execution. Together, we will tap the opportunity to leverage our existing scale in foods to broaden the brand’s presence across channels, while staying true to its consumer-first ethos and harnessing its top-notch innovation capabilities.”