.Agent ImageNew Delhi: FMCG company GRM Overseas has acquired a 44 per cent equity stake with main infusion and also indirect acquistions in Swmabhan Commerce, the moms and dad firm of Virat Kohli-backed, Rage Coffee, the provider claimed in a BSE filing on Wednesday." This critical expenditure in Squall Coffee aligns wonderfully with our outlook to drive growth in digital-first, health-focused, and also way of living labels. Our team observe substantial potential in broadening Rage Coffee's existence in the domestic market as well as leveraging unities along with our reputable export markets. Coffee as an item classification lines up well with our worldwide development technique, and our company are actually thrilled to integrate our deep-seated field experience as well as circulation capabilities with Rage Coffee's compelling offerings. We strive to lift this brand to new elevations in India as well as globally," stated Atul Garg, MD, GRM Overseas.Rage coffee offers online as well as likewise has presence across 1,000 HoReCa stores and 5,000 plus general trade and modern trade stores.Recently, the firm broadened in to the out-of-home coffee market by putting up bean-to-cup vending devices in workplaces and also opening up cafes.For FY24, Rage Coffee's unaudited turnover stood at Rs 24.9 crore somewhat up coming from Rs 23.9 crore in FY23.Founded in 1974, GRM has a varied product profile featuring rice, seasonings, and other food products with existence in both the domestic and global markets.
Published On Aug 28, 2024 at 02:44 PM IST.
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