Emami picks up 26% stake in Axiom Ayurveda in all-cash deal

29 Sep 2023 , 10:50 AM

Emami Ltd has bought a 26% share in Axiom Ayurveda for an undisclosed sum in an all-cash transaction. Axiom distributes beverages under the AloFrut brand.

Emami stated in a stock market filing on Thursday that this acquisition is in keeping with its objective of investing in the health and wellness area and would also help the company penetrate the juice category. Emami has purchased a stake in Axiom and its affiliates.

The acquisition of 26% of Axiom’s paid-up share capital on a fully diluted basis, via primary infusion and secondary buyouts, is expected to be completed within one month, according to Emami’s notification.

AloFrut is a proprietary fusion of aloe vera pulp and fruit combination sold by Axiom. Apart from AloFrut, the company’s main product, it also has a unique selection of carbonated beverages, including mocktails and energy drinks. It is also available in the Ayurvedic healthcare juice market under the Jeevan Ras brand.

Axiom’s revenues in 2022-23 were Rs 129 crore, up from Rs 111 crore in 2021-22. The company has its own production facilities in Ambala, Haryana, and is investing Rs 160 crore in a fully automated contemporary plant in Jammu.

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