FMCG player Emami will enter the juice category by picking up a strategic stake in a Haryana-based entity.
Emami has signed an agreement with the promoters of Axiom Ayurveda, which owns the brand ‘Alofrut’, to pick up a 26 per cent stake for an undisclosed amount.
Axiom, which makes beverages with aloevera pulp and fruit blend, had a turnover of Rs 129 crore in FY23. It has a manufacturing facility at Ambala, Haryana, while it is building a modern plant at Kathua, Jammu, for Rs 160 crore.
Noting that the partnership strengthens Emami’s presence in the health and wellness segment, Harsh Agarwal, vice-chairman and MD of Emami, said: “We are excited to be present in this category which is in line with our corporate growth strategy to invest in brands that not only have synergy with our existing business but also offer potential for growth.”
Rishav Gupta, founder of Axiom, added: “Considering this trend where consumers are focussing on taste and health, we have tried to offer a perfect blend, which is a big differentiator from other beverage company offerings.”
Tata Consumer
Tata Consumer Products has strengthened its ready-to-drink portfolio with the ‘Say Never’ beverage, marking its entry into energy drinks. Initially, the product will be available in Karnataka and north India for Rs 10.
