The personal care and healthcare major, Emami has acquired a 26 per cent equity stake in Axiom Ayurveda. Emami dives into the juice segment under Axiom Ayurveda’s brand AloFruit, according to the media release.
However, the company didn’t reveal the amount of the investment.
Harsha V Agarwal, Vice Chairman & MD, Emami said, “We are excited to be present in this category which is in line with our corporate growth strategy to invest in categories or brands that not only have synergy with our existing business but offer potential for growth. We look forward to adding meaningful value to the brand.”
Commenting on the development, Rishabh Gupta, Founder, Axiom Ayurveda said, “Considering the trend where consumer is focussing on taste and health, we have tried to offer a perfect blend of the same which is a big differentiator from other beverage companies’ offerings.”
Apart from Alofrut, Axiom offers various range of carbonated beverages, including mocktails and energy drinks in its product portfolio.
Additionally, it has a presence in the Ayurvedic healthcare juice segment through the Jeevan Ras brand.
According to the company, its also setting up a fully automated new factory in Jammu (Kathua) with an investment of Rs 160 crore.
Currently, AloFrut is present in general trade, government institutions, modern trade and ecommerce platforms.