Multiplex operator PVR INOX on Monday announced the sale of its premium snacking business, 4700BC, to FMCG major Marico in an all-cash transaction valued at ₹226.8 crore, as part of its strategy to monetize non-core assets and sharpen focus on its core cinema exhibition business.
The board of PVR INOX approved the divestment of its entire 93.27 per cent stake in Zea Maize Pvt Ltd (ZMPL), the subsidiary that owns the 4700BC brand. Following the completion of the transaction, ZMPL will cease to be a subsidiary of PVR INOX, the company said in a regulatory filing.
“PVR INOX has monetised its entire investment in its subsidiary ZMPL to Marico Ltd in an all-cash transaction for a total consideration of ₹226.8 crore,” the two companies said in a joint statement, adding that definitive agreements for the transfer of equity shares have been executed.
4700BC is among India’s leading premium gourmet snacking brands, best known for its popcorn offerings, and has expanded into categories such as popped chips, makhana, crunchy corn and nachos.
PVR INOX said the divestment is part of an ongoing strategic review aimed at strengthening its balance sheet and reallocating capital towards its core exhibition business. The company added that the transaction is expected to be accretive to profit, free cash flow and return ratios, and will not have any material impact on its in-cinema food and beverage revenues or growth trajectory.
Commenting on the sale, PVR INOX Managing Director Ajay Bijli said the transaction marks a natural conclusion of the company’s strategic role in building the brand. “From a niche gourmet popcorn offering, 4700BC has grown into a nationally recognized premium snacking brand. As it looks to scale further, it is well-positioned under the stewardship of a scaled FMCG leader like Marico,” he said.
Marico Managing Director and CEO Saugata Gupta said the acquisition aligns with the company’s ambition to build a strong presence 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,” he said, adding that Marico will leverage its existing food distribution and scale to broaden the brand’s reach across channels.
Marico, which owns brands such as Saffola, Parachute and Livon, has been expanding its presence in healthy, premium and functional foods, and is targeting a doubling of revenue to ₹20,000 crore by 2030.
Formed after the merger of PVR and INOX in February 2023, PVR INOX currently operates 1,783 screens across 357 properties in 112 cities in India and Sri Lanka.