FMCG Major Emami has acquired a 26 per cent stake in Axiom Ayurveda for an undisclosed amount. The acquisition by an all-cash deal will foray Emami’s entry into packed juice business.
Taking a stand, the company stated that the acquisition is a part of Emami’s strategy to invest in health and wellness segment. It even reiterated that it will help the company venture into packed juice segment.
The acquisition deal involves a fully diluted method, considering primary infusion and secondary buyouts, likely to be completed in the next one month.
Axion Ayurveda, started in 2019 by Risabh Gupta and Alisha Gupta sells beverages under the brand name AloFrut. The brand claims to sell aloe vera pulp with fruit juice mix. Besides, it has a range of carbonated drinks, such as mocktails and energy drinks.
Emami has been lining a selected range of brands in its recent acquisition, among which it acquired 30 per cent stake in pet care startup Cannis Lupus and 19 per cent stake in nutrition startup Tru Nativ. The company in FY23 posted a revenue of Rs 129 crore.
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