Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, has acquired a majority stake in Australia's health-focused beverage company Goodness Group Global Pty. Ltd. With this acquisition, RCPL has formally entered Australia's fast growing consumer goods market.
This deal is part of RCPL's strategy, under which the company is focusing on healthy and better-for-you products. Goodness Group's flagship brands Nexba and PACE are at the center of this partnership. PACE is a hydration drink, which has been developed in collaboration with Australian cricket captain Pat Cummins. RCPL will help in launching these brands in India and other international markets.
RCPL has already established its presence in markets like UAE, Qatar, Oman, Bahrain, Nepal and Sri Lanka. In India, the company has made its mark through herbal-natural beverage brands like RasKik and Sun Crush juices, zero-sugar soft drinks and Shunya. RCPL's healthy beverage segment will be further strengthened with the stake in Goodness Group.
RCPL Director T. Krishnakumar said that this partnership is a bold step towards becoming a global FMCG company from India. He said that through RCPL's strong supply chain and distribution network, Goodness Group's brands will be rapidly expanded to new markets. At the same time, Goodness Group founder Troy Douglas said that this partnership with RCPL will give his company an opportunity to become a global leader in the Better-For-You category.
Recently, Reliance Industries said that its two big consumer-focused bets—Quick Commerce and FMCG—have now turned profitable. It is clear from this that this acquisition of RCPL is an important part of the company's long-term global strategy.
