Announced on January 26, 2026, the sale concludes PVR INOX’s nearly ten-year relationship with 4700BC—a brand it developed from a gourmet popcorn option in multiplexes into a comprehensive packaged food enterprise with both national and international presence.
What began as a snack found in cinemas has now transformed into a robust consumer brand, available in modern retail stores, through e-commerce, on airlines, and via Indian Railways. The company noted that cinema-related sales now contribute only a minor fraction of the brand’s total revenue, with the majority coming from retail and digital channels.
PVR INOX secured a majority share in 4700BC in 2015 and dedicated the following decade to scaling the business. They expanded manufacturing capacity, broadened the product lineup to over 10 snacking categories, and extended distribution outside India to markets like the UAE, Qatar, and France. Revenues surged from ₹15 crore in FY21 to more than ₹100 crore in FY25, reflecting a compound annual growth rate of about 47%. In FY25 alone, the company invested ₹44.7 crore to boost expansion efforts.
This transaction values 4700BC at an enterprise valuation of approximately ₹250 crore, translating to an EV-to-revenue multiple of around 2.5 times FY25 sales. PVR INOX, which held 89.3% equity after accounting for ESOPs, received ₹220.68 crore against a total equity investment of ₹94.6 crore, resulting in an internal rate of return of roughly 24.5%.
For PVR INOX, this divestment enhances the balance sheet, creating capacity to decrease debt and concentrate on its core cinema operations.
The company clarified that this sale will not impact its food and beverage operations within cinemas, where popcorn continues to be the top-selling item. PVR INOX emphasized that it will keep innovating and expanding its food offerings at theatres, including launching new in-house concepts like its hot-dog brand, Dogfather.
For Marico, this acquisition introduces a rapidly growing premium snacking brand at a time when India’s snacking market—valued at ₹45,000 crore in FY23—is projected to grow to ₹85,000 crore by FY30, with premium categories advancing at around 20% per year.
Under Marico’s FMCG umbrella, 4700BC is expected to gain from broader distribution, swifter innovation, and more extensive category growth, while maintaining its premium status—bringing a cinema-origin brand even further into Indian homes and global markets.
