India's Reliance acquires majority stake in Australia-based Goodness Group

Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, has acquired majority stake in Australia’s popular ‘Better-For-You’ beverage business Goodness Group Global Pty. Ltd. (GGG).

Under the Strategic Partnership, Reliance will help promote Sydney-based Goodness Group’s flagship healthy beverages brands like Nexba and PACE, a hydration brand co-created with Australian cricket captain Pat Cummins, across newer markets including India.

The partnership further strengthens RCPL’s efforts in developing a health-based beverages portfolio and solidifies its position as a rapidly emerging global FMCG player from India. Notably, the company has forayed into key global markets like UAE, Qatar, Oman, Bahrain, Nepal and Sri Lanka.

T. Krishnakumar, Director, Reliance Consumer Products Limited, said, “This strategic partnership is a bold step towards establishing RCPL as a global FMCG company from India. The addition of GGG’s health-focused consumer brands like Nexba and PACE will add strength to RCPL’s healthy beverages portfolio. With our strong supply chain and distribution capabilities, RCPL will ensure expansion of GGG’s brands across newer markets and wide availability in India.”

Commenting on the partnership, Troy Douglas, Founder, Goodness Group, stated, “We are thrilled that our brands and innovation have resonated so strongly and that our strategic partner RCPL recognizes the business opportunity for us all. RCPL is one of the fastest growing players and a leading FMCG company. In RCPL, we have found an incredibly strong and sophisticated partner as part of our evolution as we become a global player in up to 50 western markets over the next five years.”