Bollywood actor Ranveer Singh has entered the packaged foods space with a strategic acquisition. The actor has acquired a 50% holding in Elite Mindset, a packaged foods startup backed by Kishore Biyani. The remaining stake in the company is shared between a venture owned by his nephew Nikunj Biyani and Think9 Consumer Technologies, a multi-brand platform supported by his daughter Ashni.
Confirming the development to Economic Times, Nikunj Biyani stated, “We see an opportunity to build a brand in the better-for-you packaged foods space with accessible and affordable protein-based products at the core of the venture.”
Elite Mindset plans to focus on protein-based packaged foods, initially launching protein bars under the label SuperYou. The company intends to expand into adjacent categories such as biscuits, protein powders, and breakfast cereals, setting the stage to directly compete with established players in the packaged foods industry.
While Nikunj Biyani refrained from disclosing the exact investment made by Singh, he revealed that the venture will receive an initial seed investment of Rs 50 crore.
Elite Mindset is the latest addition to Think9’s diverse portfolio, which it aims to scale as a house of brands. The platform currently operates in niche categories such as Italian ready-to-cook and bakery foods under Sorrentina, kids’ furniture under Smartsters, apparel under Kingdom of White, personal care products through Beauty in Everything, and probiotics under The Good Bug.
Speaking on his investment, Ranveer Singh shared, “I wanted to enable protein consumption in simple and affordable ways for Indian consumers.” The actor’s involvement in the food industry adds to his growing list of investments, which includes brands like Sugar Cosmetics, wearables brand BoAt, and Greek yogurt maker Epigamia.
This acquisition coincides with India’s growing market for healthy snacking, with the country emerging as one of the fastest-growing markets for such products in the Asia-Pacific region. A recent report by NielsenIQ highlights that “smart snacking” in India is growing 1.2 times faster than traditional snacks. Sonika Gupta, executive director, customer success – India at NielsenIQ, emphasized, “One in five snacks now has a health connotation in India; health-conscious consumption growth is being fuelled by innovations in small, affordable, and nutrient-rich products.” According to the report, 63% of consumers surveyed said they would opt for healthy snacking, while 50% read ingredient labels to understand nutritional values.
The rise of actors and sports personalities investing in startups is becoming increasingly common, with many using these investments as endorsement deals. Recent examples of such investments include Alia Bhatt’s stake in sustainable baby care brand SuperBottoms, Sachin Tendulkar’s strategic investment in used-car platform Spinny, and MS Dhoni’s investments in meat brand Shaka Harry and used-car marketplace Cars24. Other celebrities like Sanjay Dutt, Parineeti Chopra, and Sourav Ganguly have also ventured into the startup world with notable investments.
Some celebrity investments have paid off significantly, with actor Ayushmann Khurrana reportedly earning a 400% return on his angel investment in the male grooming brand The Man Company after consumer products maker Emami acquired full ownership of the brand in September 2024.
