Marico to acquire upto 22.5% equity stake in Revolutionary Fitness Pvt Ltd
Marico Limited has announced a strategic investment in Revolutionary Fitness Private Limited by agreeing to acquire upto 22.5% equity stake, through primary and secondary infusions.
Revolutionary Fitness Private Limited owns Revofit (https://revofit.com/) - an integrated fitness and holistic wellness solutions app (available on Android and iOS).
Saugata Gupta, MD and CEO, Marico Limited, said, ‚ÄúI am delighted with the partnership with Revofit, a next generation digital wellness platform. This complements Marico‚Äôs aspiration to participate in the nutraceuticals and wellness space. This win-win alliance offers a wider choice to consumers looking to incorporate wellness, fitness and nutrition into their daily lifestyle.‚ÄĚ
Sunjay Ghai, Co-founder and CEO, Revolutionary Fitness Private Limited, said, ‚ÄúMarico stands for innovation and we take great pleasure in partnering with them on our journey to make India healthier. Marico‚Äôs deep domain knowledge in marketing, distribution and product development, coupled with our strengths in digital channels and focus on niche FMCG products for millennials, will enable cross pollination of ideas to create a robust high growth business. Our team is super excited to begin this journey with Marico.‚ÄĚ
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