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PVR INOX has agreed to sell its entire stake in Zea Maize Pvt Ltd (ZMPL), the company behind premium popcorn and snacking brand 4700BC, to FMCG major Marico in an all-cash deal valued at ₹226.8 crore.
The transaction marks PVR INOX’s exit from a non-core investment as it sharpens its focus on its core cinema exhibition business. The multiplex operator said the divestment is part of a broader strategic review aimed at unlocking shareholder value, strengthening its balance sheet and redeploying capital into its primary operations.
PVR INOX has backed 4700BC since its early days, supporting its evolution from a niche gourmet popcorn offering into one of India’s fastest-growing premium snacking brands. Over the years, 4700BC has expanded well beyond movie theatres, building a strong presence across modern trade, e-commerce and institutional channels.
The company clarified that the sale will not materially impact its in-cinema food and beverage revenues or long-term growth plans. It added that the transaction is expected to be accretive to profits, free cash flows and return ratios.
Ajay Bijli, Managing Director of PVR INOX, said the exit represents a natural progression of the company’s role in nurturing the brand. “From a niche gourmet product, 4700BC has grown into a nationally recognised premium snacking brand. As it enters its next phase of growth, we believe it is well placed under the ownership of a scaled FMCG player like Marico” he said.
For Marico, the acquisition strengthens its push into fast-growing food categories. MD and CEO Saugata Gupta said 4700BC fits well with the company’s strategy of building distinctive, future-ready brands. “We see significant potential to scale the brand by leveraging Marico’s food distribution and capabilities, while preserving its consumer-first approach and strong innovation engine” he said.
Axis Capital acted as the exclusive financial advisor to PVR INOX, while Shardul Amarchand Mangaldas & Co served as legal advisor on the transaction.
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