.Representative ImageNew Delhi: FMCG agency GRM Overseas has acquired a 44 per cent equity stake with key infusion and indirect acquistions in Swmabhan Commerce, the moms and dad company of Virat Kohli-backed, Rage Coffee, the business mentioned in a BSE declaring on Wednesday." This strategic investment in Anger Coffee straightens completely with our vision to steer development in digital-first, health-focused, and lifestyle labels. Our company view huge possibility in expanding Squall Coffee's existence in the domestic market and also leveraging harmonies with our established export markets. Coffee as a product classification lines up properly with our international growth approach, and also we are actually delighted to combine our deeper business competence and also circulation abilities with Anger Coffee's vibrant offerings. Our company aim to boost this company to brand new elevations in India as well as around the globe," said Atul Garg, MD, GRM Overseas.Rage coffee offers online and also has visibility around 1,000 HoReCa shops as well as 5,000 plus general trade as well as modern-day trade stores.Recently, the business broadened into the out-of-home coffee market by putting up bean-to-cup vending makers in offices and also opening up cafes.For FY24, Squall Coffee's unaudited turnover stood up at Rs 24.9 crore marginally up from Rs 23.9 crore in FY23.Founded in 1974, GRM has a varied product portfolio featuring rice, flavors, and also other food products along with visibility in both the residential and also global markets.
Published On Aug 28, 2024 at 02:44 PM IST.
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