PVR INOX exits gourmet popcorn brand 4700BC for Rs 226.8 crore, stake sold to Marico

India's top multiplex chain PVR INOX that is often called as one of the biggest food brands as well has exited from gourmet popcorn brand 4700BC owned by Zea Maize.

The theatre company has sold its stake in Zea Maize to Marico for Rs Rs 226.8 crore.

PVR INOX had acquired a 70 percent stake in Zea Maize for around Rs 5 crore in 2015.

Zea Maize, which owns the premium popcorn and snacks brand ‘4700BC’ recorded 35 percent revenue growth, crossing Rs 102 crore in sales in FY25, up from Rs 75.8 crore a year ago.

The brand, which has evolved from gourmet popcorn to over 10 categories, is set to enter its next phase of growth, fueled by wider distribution reach, entry into general trade and modern retail, and expansion into complementary snacking segments.

India’s snacking market, valued at Rs 45,000 crore in FY23, is projected to nearly double to Rs 85,000 crore by FY30, growing at a CAGR (Compound Annual Growth Rate) of 9 percent. The premium snacking category is expected to grow at 20 percent CAGR, reaching Rs 24,000 crore by FY30. 4700BC aims to have a significant share in this space while diversifying into more snacking categories.

PVR Inox invested Rs 44.7 crore in Zea Maize in FY25 to increase production capacity for existing products, increase presence across retail outlets, hire senior talent across leadership roles in sales, operations and marketing.

“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,” said Ajay Bijli, Managing Director, PVR INOX.

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.”