.Agent ImageNew Delhi: FMCG agency GRM Overseas has acquired a 44 per cent equity concern through major mixture and also secondary purchases in Swmabhan Business, the moms and dad firm of Virat Kohli-backed, Anger Coffee, the company claimed in a BSE filing on Wednesday." This critical financial investment in Rage Coffee aligns perfectly along with our concept to drive growth in digital-first, health-focused, and also way of living brand names. Our company view enormous potential in extending Squall Coffee's presence in the domestic market and also leveraging synergies with our recognized export markets. Coffee as a product category lines up properly along with our international development strategy, and we are thrilled to incorporate our deep-seated sector expertise and also distribution abilities along with Squall Coffee's dynamic offerings. We aim to raise this brand name to brand-new elevations in India and also around the globe," pointed out Atul Garg, MD, GRM Overseas.Rage coffee sells online and likewise possesses visibility all over 1,000 HoReCa outlets and 5,000 plus general exchange and present day trade stores.Recently, the firm expanded right into the out-of-home coffee market by putting up bean-to-cup vending makers in offices as well as opening up cafes.For FY24, Rage Coffee's unaudited turnover stood up at Rs 24.9 crore somewhat up from Rs 23.9 crore in FY23.Founded in 1974, GRM has a diversified product collection including rice, spices, and also other food products along with visibility in both the domestic and also worldwide markets.
Posted On Aug 28, 2024 at 02:44 PM IST.
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