Mumbai, Feb 7 (.) Reliance Consumer Products Limited (RCPL) today officially announced that it has acquired a majority stake in Australia-based beverage company Goodness Group Global, marking its entry into the Australian consumer goods market.
As part of the partnership, Reliance Consumer plans to expand the reach of Goodness Group’s brands to new markets, including India. The move strengthens Reliance Consumer’s push into health-led beverages such as low-sugar, functional and hydration drinks.
However, the percentage of the stake and financial details of the acquisition has not been disclosed.
The partnership further strengthens RCPL’s efforts in developing a health-based beverages portfolio and solidifies its position as a rapidly emerging global FMCG player from India.
RCPL, which has a strong portfolio of healthy beverages like RasKik & Sun Crush juices, zero-sugar carbonated soft drinks and herbal-natural beverage brand Shunya, has already forayed into key global markets like the UAE, Qatar, Oman, Bahrain, Nepal and Sri Lanka. The company is also in the process of expanding its soft drinks brand Campa in several markets.
The Goodness Group, headquartered in Sydney, sells its products across Australia and more than 20 international markets. Its flagship brand Nexba focuses on gut-health beverages made using plant-based, zero-calorie sweeteners.
“With our strong supply chain and distribution capabilities, RCPL will ensure expansion of GGG’s brands across newer markets and wide availability in India. This move will further help RCPL meet its promise of making the global quality accessible to everyone,” RCPL Director T Krishnakumar said.
“In RCPL, we have found an incredibly strong and sophisticated partner as part of our evolution as we become a global player in up to 50 Western markets over the next five years. This partnership will provide an opportunity for the business to become the global leader in the ‘Better-For-You’ category,” Troy Douglas, Founder of Goodness Group said.
The acquisition gives Reliance Consumer control of Goodness Group’s portfolio of health-focused beverage brands, including Nexba and PACE. PACE is a hydration drink co-created with Australian cricket captain Pat Cummins, the company said.
Reliance Consumer has been steadily expanding its FMCG footprint beyond India, with operations in markets such as the UAE, Qatar, Oman, Bahrain, Nepal and Sri Lanka. The Australia deal adds another overseas market as the company builds a broader global presence in packaged foods and beverages.
. BA SAS