RIL Share: Subsidiary steps into healthy drink segment - forms joint venture with this company:

News Topical, Digital Desk : Reliance Industries' FMCG subsidiary has entered the beverage business. For this, the company has entered into a joint venture (JV) with Naturedge Beverages. Reliance's FMCG subsidiary will have a major stake in this JV. Reliance Consumer Products Limited (RCPL) on Monday announced its entry into the healthy functional beverage category. For this, the company has acquired a majority stake in a joint venture with Naturedge Beverages.

The company says that this step has been taken in view of the increasing demand in the healthy beverage segment. Through this partnership, Reliance FMCG will expand its portfolio and provide products in new categories to the customers.

Vision of making a total beverage company fulfilled The company said that this step strengthens RCPL's vision of making a total beverage company, as it adds health-focused, herbal-natural offerings to its growing portfolio.

Naturedge Beverages Founded in 2018 by Siddhesh Sharma of Baidyanath Group, Naturedge Beverages is known for its flagship brand Shunya, a zero-calorie, zero-sugar functional drink. It is a blend of Ayurvedic herbs such as ashwagandha, brahmi, khus, kokum and green tea. RCPL said that this JV will help expand Shunya across India through its vast distribution network.

What will be the benefit RCPL Executive Director Ketan Modi said that this partnership strengthens the company's beverage portfolio and provides health-driven options to consumers. Sharma added that this collaboration will help establish Shunya as a pan-India brand, which is in line with the growing consumer preference towards herbal-natural functional beverages. This association of Naturedge complements RCPL's earlier acquisitions Campa, Raskik and the launch Campa Energy, as the company works towards transforming India's beverage experience. On Monday, shares of Reliance Industries closed 0.66 per cent up at Rs 1382.90 on NSE.