Reliance makes an entry into Australia's consumer goods market
What's the story
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries, has acquired a majority stake in Australia's Goodness Group Global. The deal marks RCPL's entry into the Australian consumer goods market. The acquisition strengthens RCPL's presence in the global "better-for-you" beverages segment and adds Australian brands Nexba and PACE to its growing health-focused portfolio.
Marketing
RCPL to support Goodness Group's expansion into new markets
As part of the strategic partnership, RCPL will support the expansion of Goodness Group's brands into new markets, including India. This will be done by leveraging its supply chain and distribution network. The deal is in line with RCPL's strategy to offer global-quality goods at affordable prices and expand its footprint beyond India.
International growth
Expansion journey and focus on healthy beverages
RCPL has already expanded into markets like the UAE, Qatar, Oman, Bahrain, Nepal, and Sri Lanka. It has been building a portfolio of zero-sugar carbonated drinks, juices, as well as herbal beverages. T. Krishnakumar, Director at RCPL, said this partnership is a step toward establishing the firm as a global FMCG player by strengthening its healthy beverages lineup with brands from Goodness Group.
Future expansion
Plans for rapid international growth
Troy Douglas, founder of Goodness Group, said this partnership will accelerate the company's international growth. He revealed plans to expand into up to 50 Western markets over the next five years. Sydney-based Goodness Group currently operates in Australia and 21 other global markets with a range of health-oriented beverage and nutrition brands.