Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired non-alcoholic beverages maker Coolberg. In another development, Mankind Pharma has bought a majority stake in Upakarma Ayurveda Pvt Ltd for an undisclosed amount.
Ghodawat Consumer acquires Coolberg
Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired Mumbai-based startup Coolberg, which offers malt-based flavored non-alcoholic beverages, per an announcement on Monday.
Coolberg will become part of the Impulse division of GCL. As part of the acquisition, the entire Coolberg team will join GCL and will continue to focus on developing a portfolio of new-age premium beverage brands, the statement added.
Founded by Pankaj Aswani and Yashika Keswani in 2016, Coolberg has scaled its distribution in more than 200 cities and across 10 countries. The brand claims its reach in more than 50,000 outlets currently and aims to grow the same by over 1,00,000 outlets in the next couple of years.
Mankind Pharma buys Upakarma Ayurveda
Pharmaceuticals giant Mankind Pharma Ltd. on Monday announced that it has acquired a majority stake in Upakarma Ayurveda Pvt Ltd through one of its subsidiaries for an undisclosed amount.
“The current lifestyle has become strenuous where people find it difficult to focus on their health. To fulfill their requirements, consumers are considering Ayurvedic remedies for long-term sustenance and boosting immunity over time,” said Rajeev Juneja, vice chairman and managing director, Mankind Pharma Limited.
With the acquisition, Upakarma Ayurveda aims to develop a wider range of products and offerings and penetrate the market leveraging the distribution network of Mankind Pharma.