KOLHAPUR, MUMBAI: Ghodawat Consumer Limited (GCL), the FMCG arm of Sanjay Ghodawat Group (SGG), has acquired Mumbai-based start-up Coolberg, which offers malt-based flavoured non-alcoholic beverages. Founded by Pankaj Aswani and Yashika Keswani in 2016, Coolberg has been the pioneer in the malt-based beverage category in India and has scaled its distribution in more than 200 cities and across 10 countries.
Founded in 2013, GCL recently achieved Rs 1,400 crore in revenue in FY22 and looks to achieve Rs 2,000 crore by FY23. Coolberg will become part of the Impulse division of GCL and the aim is to become the biggest brand in its category across the globe. The entire Coolberg team will join GCL and will continue to develop a portfolio of new-age premium beverage brands.
Shrenik Ghodawat, Managing Director, GCL said, “Our investment in Coolberg is a testimony to our commitment to enhancing lives globally. Our goal is for the consumer to utilise at least one product from GCL throughout the day. We are excited about this partnership as Coolberg has created a niche for itself in the non-alcoholic beverage industry. We look forward to working with the highly experienced team of Coolberg as we further expand the business going forward. We are certain this partnership will take the brand to new heights of success and make it a leading name across the globe”.
Yashika Keswani, co-founder of Coolberg said, “Coolberg is a lifestyle brand that has built a strong loyalty amongst its customer base. With this partnership, we are now aiming to accelerate the growth of the brand exponentially in both domestic and international markets”.
“GCL has been built on strong fundamentals, and it touches the lives of millions of consumers on daily basis. We are happy to be a part of this journey and build a robust ecosystem for beverage brands”, added Pankaj Aswani.
Coolberg drinks are offered in glass bottles as well as cans and currently comes in six unique malt-based flavours. The brand operates omni channel and sells across online marketplaces and quick commerce as well as supermarkets, restaurants, colleges, airports, etc. The brand claims its reach in more than 50,000 outlets today and aims to grow the same over 1,00,000 outlets in the next couple of years.
Sanjay Ghodawat Group (SGG) has a presence in various high-value business verticals. Aviation, consumer products, education, energy, mining, realty, retail, and textile are some of its key business domains. (ANI/PRNewswire)