In a strategic move aimed at diversifying its product portfolio, FMCG major Emami Ltd on Thursday (September 28) announced its entry into the juice category.
Emami has achieved this expansion through a significant investment in Axiom Ayurveda Pvt Ltd and its associated companies, acquiring a 26 percent equity stake in the company, the financial details of which remain undisclosed.
Axiom Ayurveda markets a range of beverage products under the brand name, AloFrut. Its juices are a nutritious blend of aloe vera pulp and other fruits. Aloe vera is renowned worldwide as a rich source of essential vitamins, minerals, and amino acids. The AloFrut brand offers a selection of unique flavours.
While AloFrut is a cornerstone of Axiom Ayurveda's business, the company also boasts a distinctive line-up of carbonated beverages, including mocktails and energy drinks. Additionally, Axiom Ayurveda has a presence in the ayurvedic healthcare juice segment under the Jeevan Ras brand.
To support its growing product line and meet increasing demand, the company operates its manufacturing facility in Ambala, Haryana.
Further, Axiom Ayurveda is actively investing in the future, with plans to establish a cutting-edge, fully automated facility in Jammu's Kathua district, at an investment of Rs 160 crore.
AloFrut has already established a robust presence in various market segments, including general trade, government institutions, modern trade, and e-commerce platforms.
Harsha V. Agarwal, Vice Chairman and MD of Emami Ltd, said, "We are delighted to announce our partnership with Axiom Ayurveda through a strategic investment in equity. This marks our entry into the juice category with AloFrut."
Rishabh Gupta, Founder of Axiom Ayurveda Pvt Ltd said, "It is exciting to have Emami come on board as a strategic partner with wide industry experience who shares our vision to make Alofrut a leader brand."
Shares of Emami Ltd ended at Rs 515, up Rs 3, or 0.59 percent, on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Sept 28, 2023 5:21 PM IST
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