The fast moving consumer goods segment of Reliance Industries, Reliance Consumer Products Limited has purchased a majority of the Australian beverage company, Goodness Group Global Pty. Limited, making it its official entry into the Australian consumer market. The amount and price of the transaction were not revealed.
The acquisition will enhance the growth of Reliance into the burgeoning global economy in healthier drinks. Within the agreement, RCPL will strive to extend the portfolio of Goodness Group that has brands like Nexba and PACE.
The latter is a hydration beverage that was created with Australian cricketing captain Pat Cummins and has established a solid brand in the performance and wellness category.
Through the deal, Reliance will also introduce these products in new geographies, such as India where there has been steady growth in the demand of low sugar, functional and better for you beverages, especially among the youthful and urban consumers.
The addition of T. Krishnakumar, Director of RCPL, stated that the collaboration would considerably advance the current scope of health oriented products offered by the company.
He observed that the acquisition of Nexba and PACE is in line with the strategy of Reliance to have a wide beverage portfolio responsive to the changing consumer taste.
He added that the wide supply chain network and rich distribution network that RCPL had in India and other markets would enable the Australian brands to be scaled fast. In his view, the move contributes to the greater goal of Reliance to provide high quality global products to the global consumer market.
In the case of Goodness Group, the alliance presents the company with a chance to grow fast internationally. RCPL founder, Troy Douglas, said that RCPL will provide the scale, capability and sophistication required to take the organization to the next stage of growth.
He said that he was confident that the alliance would help the company achieve its dream of being a top global brand in the better for you category.
Douglas explained that the company is interested in expanding into up to 50 western markets in the next five years and having a partner of the scale of Reliance would give the company the infrastructure and investment they need to reach this target.
Goodness Group Global is headquartered in Sydney and its beverages have established a good reputation that serves health conscious consumers. It currently sells its products in Australia, and over 20 markets outside Australia.
The company has been able to concentrate on providing options that are less sugary and use ingredients located in the area of wellness and functionality.
Industry observers indicate that the deal is indicative of increasing enthusiasm of Reliance towards global brands that can be imported to India consumers on a large scale. RCPL is aggressively diversifying into categories over the last few years using a mixture of local manufacturing power and global relationships to compete with existing players.
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The Australian entry is also an indication that Reliance is planning to establish a multinational presence within the consumer goods industry instead of being confined to the local market.
With the continued rise in health awareness affecting the purchase decisions around the globe, the Reliance Goodness Group alliance may put the two companies in a better position to ride on the next wave of growth in the global beverage market.
