Reliance Consumer acquires majority stake in Australia’s Goodness Group

NEW DELHI: Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries, on Saturday announced acquisition of a majority stake in Australiabased Goodness Group Global Pty Ltd.

The deal, which includes acquiring ‘Better-For-You’ beverage business, will help RCPL enter the Australian market and help expand its overseas presence.

“Under the strategic partnership, RCPL will help promote Goodness Group’s flagship healthy beverages brands like Nexba and PACE - a hydration brand co-created with Australian cricket captain Pat Cummins, across newer markets including India,” said a joint statement.

The stake and financial details of the acquisition were not disclosed by the company.

The partnership further strengthens RCPL’s efforts in developing a health-based beverages portfolio and solidifies its position as a rapidly emerging global FMCG player from India.

RCPL, which has a strong portfolio of healthy beverages like RasKik & Sun Crush juices, zero-sugar CSDs (Carbonated Soft Drinks) and herbal-natural beverage brand Shunya, has already forayed into key global markets like the UAE, Qatar, Oman, Bahrain, Nepal and Sri Lanka.

It is also expanding its soft drinks brand Campa in several markets.

“With our strong supply chain and distribution capabilities, RCPL will ensure expansion of GGG’s brands across newer markets and wide availability in India. This move will further help RCPL meet its promise of making the global quality accessible to everyone,” RCPL Director T Krishnakumar said.

Troy Douglas, Founder, Goodness Group, stated:”In RCPL, we have found an incredibly strong and sophisticated partner as part of our evolution as we become a global player in up to 50 Western markets over the next five years. This partnership will provide an opportunity for the business to become the global leader in the ‘Better-For-You’ category.”

Sydney-based Goodness Group Global (GGG) is a renowned player in Australia that focuses on offering healthier global quality beverage choices to consumers across Australia and 21 other global markets.