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 the packed juice business.
Taking a stand, the company stated the acquisition is a part of Emami’s strategy to invest in the health and wellness segment. It even reiterated that it will help the company venture into the 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 beverage 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. It identifies as ‘Jeevan Ras’ brand under Ayurvedic juice segment.
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 fiscal revenue of Rs 129 crore.