Hotline: 1800 102 2007
Hotline: 1800 102 2007
Apr, 17 2018

Marico to Acquire Stakes In Ant Farm-incubated fitness startup Revofit

The wellness platform Revofit is incubated at Ant Farm, the startup accelerator founded by former Times Internet chief executive Rishi Khiani.

Marico to Acquire Stakes In Ant Farm-incubated fitness startup Revofit

FMCG major Marico Ltd has confirmed its plans to acquire up to 22.5% stake in the Mumbai-based parent of fitness and holistic wellness platform Revofit in a cash deal.

The wellness startup Revofit is incubated at Ant Farm, the startup accelerator founded by former Times Internet chief executive Rishi Khiani.

Marico said in a disclosure to the stock exchanges that it would acquire the stake through a mix of primary and secondary transactions. The value of the strategic investment, however, was not disclosed.

The FMCG firm will initially pick up 12.66% stake in Revolutionary Fitness Pvt. Ltd. The remaining 9.84% stake will come into play once Revofit achieves certain milestones which have been specified in the agreement.

Incorporated in 2014, Revofit creates customised meal plans and workout regimens for users and helps them stick to their fitness goals. It is also involved in the development and sale of ready-to-eat food through its online platform and at its physical locations.

Saugata Gupta, managing director and chief executive officer of Marico, said the strategic investment complements Marico’s aim of participating in the nutraceuticals and wellness space.

Sunjay Ghai, Co-founder and CEO of Revolutionary Fitness, said Marico’s deep domain knowledge in marketing, distribution and product development, will hold his firm in good stead.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Ad Agencies & Collection Centres
    The brand deals with conduction of various events, related to..
    Locations looking for expansion Haryana
    Establishment year 1988
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • We focus on Fat loss through a well researched, scientifically..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 50lac - 1 Cr.
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Beauty Salons
    About Us: Cut & style is one of the finest and..
    Locations looking for expansion New Delhi
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • Others Food Service
    Mahavir Mevawala is a Trusted Name Since 1989 Engaged in..
    Locations looking for expansion Haryana
    Establishment year 1989
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities