Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals the company that owns the brand
Just Herbs (hereinafter referred to as Apcos Naturals) and a Share Purchase Agreement with its existing promoters and shareholders, to make a strategic investment in Apcos Naturals by acquiring / subscribing 60 % of the total paid-up share capital in the form of Equity Shares and Compulsorily Convertible Preference Shares (CCPS) of Apcos Naturals.
The Company shall acquire 52.4% of the total paid-up share capital by 31 July 2021 and accordingly Apcos Naturals shall become a subsidiary of the Company. The Company will acquire the balance stake of 7.6% by 31 March 2023 as per the conditions set out in the Shareholders agreement signed between the parties.
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