INDIA – Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired Mumbai-based non-alcoholic beverages maker Coolberg, for undisclosed financial terms.
Founded by Pankaj Aswani and Yashika Keswani in 2016, Coolberg has been the pioneer of the malt-based beverage category in India and has scaled its distribution in more than 200 cities and across 10 countries.
Coolberg has been the pioneer of the malt-based beverage category in India and has scaled its distribution in more than 200 cities and across 10 countries, with more than 50,000 outlets and aims to grow the same to 1 lakh (100,000) outlets in the next couple of years.
Its drinks are offered in glass bottles as well as cans and currently comes in six unique malt-based flavors.
The brand operates Omni-channels and sells across online marketplaces and quick commerce as well as supermarkets, restaurants, colleges, and airports.
The brand will join the Impulse division of GCL, with its entire 300-member team joining the Sanjay Ghodwat-led Group’s fast-moving consumer goods (FMCG) business, which also offers products such as carbonated drink Fizzinga, and fruit beverage Frustar.
GCL, founded in 2013, has a portfolio that includes staples, impulse, homecare, and personal care categories. In the last financial year, the company reported a revenue of Rs 1,400 crore and is aiming to reach Rs 2,000 crore in the next year.
Its success lies in world-class manufacturing facilities, extensive rural and urban penetration, efficient trade marketing, distribution network, and business ethics are the key driving factors for attaining this illustrious feat in a short period.
The startup will prioritize brand-building, going to market, and scaling up manufacturing in the near term as a part of GCL, said Pankaj Aswani, adding that Coolberg will benefit from the FMCG company’s larger ecosystem.
Shrenik Ghodawat, Managing Director, GCL said: “Our investment in Coolberg is a testimony to our commitment to enhancing lives globally. Our goal is for the consumer to utilize at least one product from GCL throughout the day. We are excited about this partnership, as Coolberg has created a niche name for itself in the non-alcoholic beverage industry.
“We look forward to working with the highly experienced team of Coolberg as we further expand the business going forward. We are certain this partnership will take the brand to new heights of success and make it a leading name across the globe.”
Yashika Keswani commented that Coolberg is a lifestyle brand that has built strong loyalty to its customer base.
With this partnership, the companies are aiming to accelerate the growth of the brand exponentially in both domestic and international markets.
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