Ghodawat Consumer acquires beverages startup Coolberg
Kolhapur/ Mumbai (Maharashtra) [India], November 28 (ANI/PRNewswire): 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. Founded by Pankaj Aswani and Yashika Keswani in 2016, Coolberg has been the pioneer of the malt-based beverage category in India and has scaled its distribution in more than 200 cities and across 10 countries.
Founded in 2013, GCL has focused on constant product innovation customer-centricity, affordability, and quality, creating a unique brand identity for itself. GCL started its journey by manufacturing edible oils and with increasing consumer acceptance, trust, and notable success, the company was encouraged to expand and diversify its product portfolio to include staples, impulse, home-care, and personal care categories. GCL has recently achieved a momentous milestone of 1,400 Crore in revenue in FY22 and is on track to achieve INR 2000 Crore by FY23. GCL's success lies in world-class manufacturing facilities, extensive rural and urban penetration, efficient trade marketing, distribution network, and business ethics are the key driving factors for attaining this illustrious feat in a short span of time.
Coolberg will become part of the Impulse division of GCL and the aim is to become the biggest brand in its category across the globe. The entire Coolberg team will join GCL and will continue on the mission to develop a portfolio of new-age premium beverage brands.
Shrenik Ghodawat, Managing Director, GCL says, "Our investment in Coolberg is a testimony to our commitment to enhancing lives globally. Our goal is for the consumer to utilize at least one product from GCL throughout the day. We are excited about this partnership as Coolberg has created a niche name for itself in the non-alcoholic beverage industry. We look forward to working with the highly experienced team of Coolberg as we further expand the business going forward. We are certain this partnership will take the brand to new heights of success and make it a leading name across the globe."
Yashika Keswani, Co-founder of Coolberg quoted, "Coolberg is a lifestyle brand that has built a strong loyalty amongst its customer base. With this partnership, we are now aiming to accelerate the growth of the brand exponentially in both domestic and international markets."
"GCL has been built on strong fundamentals, and it touches the lives of millions of consumers on daily basis. We are happy to be a part of this journey and build a robust ecosystem for beverage brands," added Pankaj Aswani.
Coolberg drinks are offered in Glass bottles as well as Cans and currently comes in 6 unique malt-based flavours. The brand operates omni channel and sells across online marketplaces and quick commerce as well as supermarkets, restaurants, colleges, airports, etc. The brand claims its reach in more than 50,000 outlets today and aims to grow the same over 1,00,000 outlets in the next couple of years.
Sanjay Ghodawat Group (SGG) is a prominent Indian business conglomerate that has a presence in various high-value business verticals. Aviation, Consumer Products, Education, Energy, Mining, Realty, Retail, and Textile are some of its key business domains. SGG was founded in 1993 and since then it has witnessed impressive growth under the splendid stewardship of its Founder and Chairman- Sanjay Ghodawat. It has a strong base of millions of customers globally, an employee strength of over 10,000, and a student base of over 16,000. SGG is moving ahead with great vigour and bringing significant changes in people's lives with its wide range of high-quality products and services.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Source: Business