.Rep ImageNew Delhi: FMCG agency GRM Overseas has obtained a 44 per cent equity stake through main mixture and secondary acquistions in Swmabhan Business, the parent provider of Virat Kohli-backed, Squall Coffee, the firm mentioned in a BSE submission on Wednesday." This calculated expenditure in Anger Coffee aligns perfectly with our vision to drive development in digital-first, health-focused, and also way of living brands. We view enormous ability in growing Rage Coffee's presence in the domestic market and leveraging synergies with our established export markets. Coffee as a product category aligns properly along with our international development strategy, and our team are thrilled to combine our deeper market experience and also distribution abilities with Anger Coffee's compelling offerings. Our experts target to elevate this brand name to brand new heights in India and globally," claimed Atul Garg, MD, GRM Overseas.Rage coffee markets online and also possesses existence around 1,000 HoReCa outlets and 5,000 plus general exchange as well as present day trade stores.Recently, the company broadened right into the out-of-home coffee market through putting in bean-to-cup vending machines in offices as well as opening up cafes.For FY24, Squall Coffee's unaudited turnover stood at Rs 24.9 crore partially up coming from Rs 23.9 crore in FY23.Founded in 1974, GRM has a diversified item portfolio featuring rice, flavors, and also other foodstuff along with existence in both the domestic and also worldwide markets.
Published On Aug 28, 2024 at 02:44 PM IST.
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