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GRM Overseas acquires 44% stake in Rage Coffee, Retail News, ET Retail

.Agent ImageNew Delhi: FMCG agency GRM Overseas has obtained a 44 per cent capital stake through major mixture and secondary acquistions in Swmabhan Commerce, the moms and dad company of Virat Kohli-backed, Rage Coffee, the business said in a BSE submission on Wednesday." This critical financial investment in Squall Coffee aligns perfectly with our vision to drive development in digital-first, health-focused, and way of life brands. Our team find huge possibility in extending Squall Coffee's existence in the residential market as well as leveraging unities along with our well established export markets. Coffee as a product type lines up well with our global growth approach, and also our team are delighted to mix our deeper industry experience and circulation abilities along with Rage Coffee's compelling offerings. Our experts intend to lift this brand to brand new heights in India as well as worldwide," said Atul Garg, MD, GRM Overseas.Rage coffee offers online and additionally possesses presence throughout 1,000 HoReCa stores and also 5,000 plus standard trade as well as modern exchange stores.Recently, the company broadened right into the out-of-home coffee market through mounting bean-to-cup vending devices in offices as well as opening 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 diversified item portfolio including rice, spices, and also various other food products along with existence in both the residential and worldwide markets.
Released On Aug 28, 2024 at 02:44 PM IST.




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