Emami is set to acquire the remaining 73% stake in Axiom Ayurveda, the parent company of flavoured drink brand Alofrut, bringing its total ownership to 100%. The fast-moving consumer goods (FMCG) company already had a 27% stake in Axiom Ayurveda.
In an exchange filing on Thursday, Emami said it is acquiring the remaining 73% stake in Axiom Ayurveda for an amount not exceeding ₹200 crore. The FMCG giant also noted that the transaction is expected to be completed in a phased manner over the next three months.
Over the last few years, Emami has aggressively pursued acquisitions of startups. In 2024, the company took ownership of men’s grooming startup The Man Company and also bought stakes in pet care brand Fur Ball Story in 2022.
Axiom’s diverse portfolio
Apart from beverage products such as AloFrut, Axiom’s portfolio also includes health juices under the brand “Axiom Jeevan Ras”, and beauty products under the brand “Mukti Gold”, the company said.
Harsha Vardhan Agarwal, Vice Chairman & MD, Emami, said that the company’s growth strategy is centred on building presence in emerging, high-opportunity categories that align with evolving consumer preferences, particularly in the health and wellness space.
“Our partnership with Axiom over the past two and a half years has provided us with valuable insights and strengthened our conviction in this segment,” Vardhan said in an official statement.
Emami, whose core business lies in the beauty and personal care segment, is entering the food and beverage industry through this acquisition. “With the completion of the acquisition, we bring Axiom fully into the Emami fold, marking our formal entry into the fast-growing & huge beverage segment,” Vardhan said.
Axiom appoints new CEO
In a separate development, the company announced the appointment of Harkirat Bedi as the Chief Executive Officer (CEO) of Axiom Ayurveda Pvt Ltd. He has previously served as the Vice President and Business Head at Dabur Nepal.
“His appointment is expected to further strengthen the leadership team and accelerate the company’s expansion in the health and wellness beverage segment,” the company said.
Axiom Ayurveda was founded in 2019 by Rishabh Gupta and Alisha Gupta. The Haryana-based company reported a consolidated turnover of ₹110 crore in FY25 and ₹107 crore in the previous year, according to an exchange filing.
Meanwhile, Emami has 550 diverse products in its portfolio, including brands such as Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King.
