Brands
PVR Inox to offload popcorn brand to Marico
NEW DELHI: India’s biggest cinema chain is buttering up its balance sheet. PVR Inox has flogged its entire stake in 4700BC—the gourmet popcorn brand that evolved from a niche cinema nibble into a premium snacking powerhouse—to Marico for Rs 227 crore in cold, hard cash. The deal, announced on 26 January, marks a strategic retreat from the munchies business and a renewed focus on the main attraction: cinema. Under the definitive agreement between the two, Marico is to acquire a 93.27 per cent stake in Zea Maize Pvt Ltd,from PVR Inox. Zea Maize owns 4700BC which sells popped chips, makhana, crunchy corn and nachos. Additionally, Marico has the right to acquire the remaining stake in Zea Maize after completion of three years from execution date at a consideration to be determined at such time, subject to achievement of certain milestones, requisite approvals and terms and conditions under the definitive agreements.
PVR Inox nursed 4700BC through its formative years, watching the brand pop beyond multiplexes into modern retail, quick commerce, and institutional channels. But as the snack maker eyes its next growth spurt, the cinema giant reckons it’s curtain call. “We recognised the potential in 4700BC at a very early stage,” said PVR Inox managing director Ajay Bijli. “As it looks to scale further, the brand is well positioned under the stewardship of a scaled FMCG leader like Marico.”
Translation: it’s time to let the grown-ups take over. Marico, which already peddles everything from hair oil to breakfast foods, sees 4700BC as a ticket into India’s fast-growing premium snacking category.
Marico managing director and chief executive officer Saugata Gupta called the acquisition a “distinctive, future-ready” play. The company plans to leverage its distribution muscle to broaden 4700BC’s reach whilst—naturally—staying true to its “consumer-first ethos” and “top-notch innovation capabilities.” Corporate jargon aside, the bet is clear: India’s affluent urbanites have an appetite for posh popcorn, and Marico wants in.
Adeds 4700 BC founder Chir4ag Gupta: “While PVR INOX has played a pivotal role in building scale and credibility, Marico’s FMCG expertise will be instrumental as 4700BC enters its next chapter. With the strong backing and exciting new launches ahead, the focus for us remains on building one of India’s most loved premium snacking brands.”
For PVR Inox, the sale is less about abandoning snacks than about sharpening strategy. The company insists the divestment won’t dent its in-cinema food and beverage revenues—after all, cinema goers will still queue for overpriced nachos and fizzy drinks. Instead, the transaction unlocks shareholder value, strengthens the balance sheet, and frees up resources for core cinema operations. The company expects the deal to juice profit, free cash flow, and return ratios. In short: more screens, fewer distractions.
Founded in 2013 by Chirag Gupta, 4700BC started as a gourmet popcorn purveyor and has since carved out a niche in India’s organised snacking landscape. The brand’s bold flavours and slick marketing have won over the sort of urban consumers who wouldn’t be caught dead with a bag of crisps from the local kirana. Now, with Marico’s firepower behind it, 4700BC has a shot at becoming a household name—or at least a premium one.
PVR Inox formed in 2023 through the merger of PVR and Inox Leisure, operates 1,783 screens across 357 properties in 112 cities in India and Sri Lanka. The company has spent years investing in next-generation formats, immersive experiences, and premium large-format screens. With 4700BC off its books, it can now focus entirely on what it does best: flogging tickets, not popcorn.
The moral of the story? Sometimes the best business move is knowing when to quit whilst you’re ahead. PVR INOX planted the seed, watered the crop, and cashed out before the harvest got messy. Now it’s back to the movies—and Marico gets to pop the champagne.
Brands
Emami names Dhruv Aggarwal as chief growth officer
Former Bain partner steps in as FMCG firm sharpens growth playbook
MUMBAI: Emami Limited has appointed Dhruv Aggarwal as its chief growth officer, effective 25 March 2026, following the resignation of Giriraj Bagri.
Aggarwal joins the FMCG major from Bain & Company, where he most recently served as partner. With over two decades of experience across consulting and strategy, he brings a global perspective shaped by work across India, the US, the UK and Germany.
During his tenure at Bain, Aggarwal advised consumer, retail and media companies on large-scale transformations, business turnarounds and growth strategies. He was also closely involved with India’s startup ecosystem, guiding early-stage ventures on scaling and digital expansion, while supporting private equity and venture capital firms on investment decisions.
His earlier stints include a brief role at Barclays Capital and operational experience at Jindal Power, giving him a mix of financial and industry exposure.
Academically, Aggarwal holds an MBA from Indian Institute of Management Bangalore and has also been associated with University of Illinois Urbana-Champaign as a PhD candidate and teaching assistant.
The appointment comes at a time when Emami Limited is looking to sharpen its growth strategy in a competitive consumer market. With a seasoned strategist now at the helm of growth, the company appears set to double down on transformation and expansion in the months ahead.
